Need help deciding to buy my 1st rental

[Jon H.]

I'm looking to buy a rental property in a section 8 neighborhood. The house needs paint among other things. The house is advertised with a new roof, however they put new shingles on the roof but the underlayment looks wavy and rotted in some areas. The floor gives a little when walking through the home in some areas. They want 18,900 for the house. At what price should i try and get this for, or should i walk away? Other than that the house really only needs new carpet and paint to put a renter in. Please help. Thanks,