Looking To Purchase Duplex- Need Help Analyzing This Deal!

[Winston Spence]

Hello,

I'm looking to purchase my first duplex with FHA financing. I just want to make sure this is potentially a good deal before going all in. The property is:

Sqft: Over 1,700

List Price: $56,000

Potential (Hopefully) Purchase Price: $50,000

FHA Downpayment: $5,000

Bed/Bath: 2 bed, 1 bath on each floor

Property Taxes: $1,900

Potential Rent: $600

Potential Insurance: $1,400

Maintenance- $1,000 hopefully, not much land

Since the loan is FHA, I understand that I have to live in the first floor. I never owned a home before so I have nothing but a guess on how much the water and electricity will be. Hopefully, I can get the tenant to pay their share of the water and electricity bill. Is this a good deal? Would I be able to live in this property and cash flow or at least break even? If you have any suggestions let me know, all help is greatly appreciated!