Newbie needs help with deal analysis, tampa bay area, FL

[Ally Kumar]

Hi all, I need some expert advice. Looking at 4 unit apartment building in northern part of Tampa bay area. 

Purchase price $195,000 (30% down payment)

Tax $2006/yr

Insurance $2700/yr

Vacancy (6%) $1170/yr

Reserves $2000/yr

Self management with some hired help $1560/yr

No cap ex needed, turnkey, full rented

Current gross rents $28,200 (annual), rents are undermarket, full potential $31000

Is this a good deal or not? Am I missing anything in my analysis? Pl critique.

Thanks so much for your help. I am very impressed by collective knowledge of BP members and more importantly willingness to share and educate others. Keep up the great work, BP!!