Buying my first apartment building

[Anthony French]

So I found an apartment building about 40min from my house I’m looking to purchase with an angel investor firm (6%) so I won’t have to put any money down to start, the property is listed at $575,000 

12 units all leased with NOI of 38k and rents bring in 60k a year of revenue. At first financially it sounds like a solid play but I feel like I'm missing something anyone have tips about the numbers ?

[Johnny Quilenderino]

When I deal with MF, it has to cash flow at 50% occupancy. So, cut the rents in half, run your expenses does it cash flow? No, then you need a larger downpayment or walk away.

Why do I say this? I bought my first 6 unit building which met all the criteria above, and it got bed bugs the first month I owned it. Two months, 22k of expenses and 12k in lost rents I finally got my building back.

This one is a little too close for my comfort. 
I am an investor with 28 units.

Cheers,
JQ