Is it worth it?

I thought I had a good deal started, but seeing some of the stuff on here has me reconsidering!

My lender has no problem giving me a 5 year commercial loan provided I put down 20%, rates are at 4.7%.

A duplex around the corner from me was listed at 230,000. I watched it go down to $210,000.

Offered 190,000 - they accepted.

Rents total 1600 per month, taxes about 3800 per year, insurance in my area about 600.

Is this worth my time or should I back out?

That’s not NEARLY enough cash flow for me… I know in some areas you have to pay premium prices for acquisition, but that’s way too low IMO.
Many Realtors will sell it to you like this:
payments for 190k at 5% for 30 yrs is $1020/mo
taxes and insurance are $367/mo
total expenses are $1387 so the property cash flows

Of course this is total crap and doesn’t work, but it won’t stop someone from telling you it’s a good deal.
You either need to get it cheaper or have room to raise the rent.

The property is beautiful, I don’t see any problems with it… but I think you’re right. The cash flow is just too lean to mess with.

I’ll keep looking. Thanks for the response!