Help with Deal Analysis

[Siyavash Fooladian]

Hi,

I'm a rookie and I've been doing a lot of reading to get educated. I live in CA and am looking at out of state investing. I would appreciate help in a deal analysis. I found a duplex (each unit is 2/1, ~600SF) that has renters already in place. It's been on the market for since Feb 2020. The list price isn $122,000. Given that it has renters in it, I am waiting to get some interior pictures of both units. As of now, I am not calculating any rehab costs into the analysis since the units are rented, but I anticipate rehab in the future to increase its value. The units are renting for $600 and $650. The median rent is ~$600, so doesn't seem like there would be a big opportunity to increase the rents by $25 each generate a little more rental income. 

My questions: 

1. How do I accurately estimate insurance and vacancy rates for the zip code? 

2. Constructive comments/advise on my analyses: I have attached a few different images of my current analysis: 1. $122K, full price with 20% down, no rehab. 2. 122K, 20% down, $12K rehab (eventual).3. $110,000 offer, 20% down, no rehab calculated. 4.. 110,000 offer, 20% down, with $12K eventual rehab calculated in there.

3. What would be the lowest offer you would offer without insulting the seller?

The scenarios that seem to make it more worthwhile with a cash on cash return of 9% or more is with lower purchase price and no rehab or deferred rehab. Given that I'm new and this would be my first rental, I am looking for some wisdom on proceeding and making the deal worth it on the buy.

Any thoughts, suggestions would be appreciate. Still learning and appreciate the insights. 

Sia