Would like opinions on this property

[Nicholas Morris]

Property price 22k condo turn key or very minor repairs.

Analysis
Low side of rent 600/mo

P and I with 4400 down 95/mo
Property Management 60/mo
Vacancy 60/mo
Maintenance reserve 60/mo
Taxes 30/mo
Hoa 135/mo
(Hoa includes water, trash, sewer, insurance, exterior and roof maintenance.)

Gross income 600 - expenses (including p/i) 440 = 160 Cash flow

Annual cash flow 1920 / initial investment 4400 = 43.6 Cash on Cash return.

Some things I am concerned with is that the expense are above 50% of gross rents. 345/600. The thing is I wouldnt be worried about Roof or exterior maintenance so would my 10% maintenance reserve cover the maintenance costs? Anyone know if these hoa insurance policies are sufficient or do you have to supplement it?