First Rental property

[Mark Thompson]

Hello,

I am thinking of purchasing my first rental property In my home state of Arizona. It is a Gated community, with a community pool and great common areas. I would love to live there myself. I put in a bid for 81500k, its a 3br, 2bath, 2 car garage 2004 home. I am thinking it should bring between $950 and $1100 a month. My total bills should be around $575 a month, with HOA included. I have not factored in the 50% in repairs. I know this prop does not adhere to the 2% rule. It does not currently have a fridge.

Any opinions? Do you think I am paying to much?

Thanks for any help.