Duplex opportunity for 160k, need help analyzing

[Madisyn C.]

Hi all, I have an opportunity to buy a 2 unit duplex at 160k with nothing down, owner financed at 7% for 20 years.
Yearly combined rent is 25800 (2150/month)
I will be paying water- about 2400 per year (200/month)
insurance and property taxes come to about 6617 (552/month)
monthly mortgage is 1240

I know the cashflow is not nearly at the ideal amount, only coming in at $158 but is appreciation and the terms alone worth it? Im 25, make decent money but after looking at traditional loans for a rental property, they want 25% down which just isn't an option right now. Is this a good opportunity to get into the game?
Any advice is much appreciated.

[Will Barnard]

Originally posted by Wayne Brooks:

Madisyn C. Which subdivision?
Will Barnard, You sell a lot of "hoes", I thought you were in REI? (Gotta giggle when someone else's typing rivals mine)

That is some funny stuff there! I guess you caught me. All this time I have been hiding the fact I sell hoes rather than homes. :)
Now you all know why I am so successful in this competitive market!

Damn these phones and their tiny keyboards! :)