Is this a good deal in Riverside Jacksonville?

[Lindsey Clark]

Hello fellow investors. I found a deal I am excited about. There will be a lot of firsts for me on this deal so I was hoping to get some feedback. First multi-family, first investment property outside of my town, first time I won't be managing the property on my own. Let me know what you think. Is this as good of a deal as I think it is? Am I missing anything? Here are the numbers.... Sale price is $215,000 for a 3 unit multifamily property. It is off market and being sold by a tired landlord. The units are being rented under market value with tenants in place for all units. Studio renting for $560, 1 Bedroom for $825 and 2 Bedroom renting for $725 (being rented to owners grandson). That brings the total rental income to $2110/month. Cap rate is 8-9% per my realtor. Once the leases are up I will increase rent and with some minor repairs I believe I would be able to get at least $2510/month in rent. Yearly taxes are $3869. Tenants will be responsible for utilities as soon as I separate the meters. 8-10% for property manger. I will finance this deal and calculate my mortgage to be $1038 per month with a $35,000 down payment. I am open to any opinions anyone can share or creative strategies I can use to improve this deal.