Help analyzing a property

[Jade N.]

Hello BP,

I hope I can get clarity on here. I have a property I'm thinking of purchasing. I eventually want to BRRRR but this property came up and I'm trying to decide if it makes sense as my first investment.

The numbers:

Purchase Price:$165,000

Down Payment$41,250
Principal & Interest Payment: $703
Closing Costs: $7,1028
Gross Scheduled Income (GSI)$35,888
Number of Units:3

Annual expenses:
Utilities: $4,000
Maintenance & Repair: $1,500
Property Insurance:$1,500
Property Management: $3,589
Real Estate Taxes: $2,139
Its supposed to cash flow: $11,857

Did I forget any expenses?

My concerns are the cash needed for the deal ($50k) and it needing some work if the tenants leave. It is fully rented currently. I would prefer less cash invested but haven't found the right deal at a lower price.  I appreciate any thoughts.