Long Distance & Flood Zone Commercial Property & High Cash Flow

[Luis Angamarca]

I am considering buying a great condition commercial property (2 rental units upstairs and a cafe on the first floor) at 450k in South Jersey. I plan on offering 300k to start negotiating since it has been for sale for a couple months now. The cashflow is around $2000 per month after mortgage, taxes, and all expenses are paid (including flood and regular insurance). Seems like a great deal but there are a few things holding me back. 

First of this will be my first step into Real Estate so it is kind of frightening jumping into commercial properties right away. Second, I live in North Jersey so I will be an hour away in case anything goes wrong. Finally, it is in a flood zone so I have heard these rates can go up often. Flood insurance is already around 3k from an estimate I received. 

Should I go for it?

Also any idea why this property might not be selling? Besides being in a flood zone, a commercial property (harder to get loans?), and being in South Jersey (less demand than where I live), I do not see any reasons why it is not selling. 

Please advise. Any feedback is appreciated.