Should I buy a rental property at 21 years old?

Ok, Im almost 22, I make about 30k per year and really want to buy an 8 unit apartment building for 160k. I have been approved and my credit is about a 740. i know I should take out about 30k extra for for back up.i really want to start building equity, and have a good positve cash flow. Rent is roughly 600 per unit with 1 year leases already in effect. My question is, how much work is involved with this this type of endeavor and is it something that is recommended at my age?