Would you do this deal?

[Frank Perkins]

Just checking...

$120K purchase price (already renovated, no chance to add value).

Renters in place just beginning a 2 year lease for $1200/month.

20% down, 5.5% loan (~28K initial investment).  Math says $120/month cash flow

Obviously doesn't hit 2% rule

Are there people that would do this deal?