First deal, 2/2 condo in Pompano Beach, Florida

[J Valansi]

I'm about to sign an offer contract, for the first time. I just want to run the numbers through someone before signing.

The numbers: 

Price: $105,000

Down payment: $21,000

Expected rent: $1,250.00 (tenant already renting)

Tax: $179

HOA: $310

Insurance: $39

Mortgage payment: $430

Vacancy: 10%

Total: ~$200 or 9.4% return

The tenants are away, so I didn't see the apartment, but will send for an inspection and appraisal.

This does not include property management which might turn this into a much less attractive deal, but I plan to try manage myself, at least at the beggining. 

What do you think?

Thanks!