Help evaluating my Buy

[Sri Mallur]

I recently bought the following property in Stockton CA in an auction. Can anyone help me understand if this is good deal. Waht did I miss? What should I look for?. I can use your advice in my next purchase
1) Purchase Price: 173250
2) Down: 20%
3) Loan Amont: 138600
4) Rent: 1500/Mo
5) Property Manger: 8% of rent = 120/mo
6) Hazard Insurance: 1375/Yr = 115/Mo
7) Flood Insurance: 348/Yr = 29/Mo
8) Property Tax: Assuming 1.4% = 202/Mo
9) Cash Flow: 100/Mo
10) Cap rate based on my calc = 7.16

Please advice and help me understand my mistake.