It might or might not be depending on what you want to do, how much risk tolerance you have, and so on. Do you know the area well? That's probably the most important thing, IMO. Even if you hire out management, you should know the type of neighborhood you are buying into.
Certainly, getting a 10% investment loan is not typical, and could make things interesting. Do you have PMI with a 10% loan? You'll have to factor that in. What kind of a loan is it, 30 year fixed?
What are your total cost to close? (Lender fees, appraisal, inspection, points, title company junk, etc.). I'd assume another several thousand dollars not mentioned here. You say you would have 23K down, but 10% is 22K. It will be a lot more than $1000 to close. Just the appraisal and inspection will be that much.
Do you have any repairs / make ready to do? Make sure you account for that too.
3150 Rents
-500 Taxes
-167 Water
-134 Insurance
-59 Utilities
-315 Mgmt
-315 Maintenance
-158 Vacancy
That leaves $1502 per month, before you pay your Principal + Interest (+ PMI if applicable).
A quick loan calculator for a 30 year mortgage of 198,000 (220k * 90%) @ 5% is almost $1000 per month, without PMI.
I'd personally start getting nervous if I was only clearing $100 or less per door, but I tend to try to assume worst case, and if it's still a good deal in that case, then I do it.
Also, it can take months after you close on a property and start being on the hook for the mortgage, to the point at which you have any money coming in. Just make sure you have reserves. If you are in a comfortable spot, then it might be something worth going for.