Buying an 8-plex with low rents

[Hurricane Hamilton]

This 8-plex is in an area where studio/1br apartments rent conservatively for $325 per month.
Zillow listing:

https://www.zillow.com/homedetails/1318-N-18th-St-...

Listing price: $119,000

Income:

Estimated Annual Rents: 8*$325*12= $31,200

Less 10% vacancy: $28,080

Expenses:

Taxes: $2285

Insurance: $2000

Management (10%): $3120

Maintenance (10%): $3120

CapEx (10%): $3120

Debt service: $6133 (30yr for $95,200 @ 5%) (20% down)

Total expenses: $19,777

Net Income: $8302

Per door per month: $86

I already own a duplex and a SFH in the area, and I want to diversify my income sources by investing in apartments. I want to buy and hold for rental income: Does this apartment complex seem like it would further that goals, or is there something I'm missing?

Thank you in advance for all opinions and advice!

[Ramsey Blankenship]

Speaking from experience, and depending on what the interior looks like, you may run into issues renting the studios without including utilities if you are renting to a lower class tenant. I am unsure if there is a college or some primary driver that would warrant a younger, single tenant who is a professional person however just getting started. If this is the case then you may be fine. However if the tenant class is people who are forced to stay in $325 p/month units because that is all they will ever be able to afford - these people have trouble having utilities turned on in their name. If you are renting to people with bad credit and very little savings, the utility department requires a down payment to turn on services. This is a deterrent for this class of tenant when finding a place to live. 

I dont recommend keeping any apartment in this class of tenant, however that is more so determined by the area this complex is located.  

At those numbers, however, the return is great - however just like anything else in real estate,  returns and headaches are directly proportionate.