Rental Unit...Possible Deal

Rental Unit...Possible Deal

A bird-dogger contacted me today telling me about a deal he found:

7 cap,
owner will carry with 10% down at 5.5%!!!
8 units - on 1.456 acres.
Price is $650,000

Annual income: 69,800
laundry 1,800
Total 71,400

Expenses
Taxes 7025
Insurance 3381
Electricity 1500
Rubbish 1500
water 4600
Cable TV 1980
Maintenance 6000
Advertising 400

Total Expenses 24,106
Net Operating 47,294

should this be something I should pursue? What questions should I ask?