Newbie about to make a jump into Investment property - Good idea?

[Tracy Phillips]

I'm about to make an offer on an investment property and making sure this is an attractive investment.  Property is a 2 story 4 unit apartment building near a college campus.  Asking price of 180K and is fully rented ($700/month avg or $2800 total).  I got my approval letter to purchase with 25% down (4.375%/30yr fix).  Building has new roof, new windows and a new staircase.  3 of the 4 units completely renovated from head to toe (everything, even the receptacles and switches).  I don't know everything about the 4th unit but it rents about 50-75$ cheaper than the renovated units.  Yearly expenses stated are water/1800, trash/360, area light/240, lawn care/900, dumpster/156, Insurance/1920, taxes/1536 for a total of $6912.  Management company 8% - 2688/yr, New/renew lease fees (2 new/ 2 rew) = 900,  Maintenance at 25/hr is a wildcard so I used 48hrs a year for 1200.  Loan @$700/month.  Total operating expenses = $20,700 - Total rents = $33600 for cash flow of $12,900/year.  Am I missing anything to consider?  Any advice is appreciated.  I can't think of anything else.  

[Steve Vaughan]

Unless it's in a war zone, the numbers look good to me.  I think you could do better with insurance.  Shop that premium.  Wish I could grab a quad with $2800/mo income for $180k in my area.  I try to shoot for about 92% of asking price on property like this, as there isn't owner attachment like with homes. Good luck @Tracy Phillips !