2nd opinion on Cincinnati deal

[Peter Shannon]

Property is in Cincinnati. Mortgage + insurance + taxes= $757. 10% for repairs. 10% for maintenance. 10% for property management. I estimated the water to be $160. Total expenses are $1450.72. The rent income is $1800. It is a triplex. It was listed as well maintained, but it does need repairs. There is some aluminum wiring. We are going to ask the seller to repair. We would put in $36,000 into the deal. Cash flow is $341 and Cash on cash is 11%. It is fully rented and may have a trouble tenant. It would be our first deal. Are we crazy for persuing this property? I am excited to get started after over a year of planning and saving. I do not want my excitement to override logic. 1920's brick home. Thanks!