Newbie Needs Deal Analysis Help

[Dave M.]

Hi all,

I would like to get into property ownership and have a potential deal that I'd like some feedback on.

Property is SFH that is occupied and renting at $650 / month

Owner is asking $35K.

Taxes are $800 / yr and insurance would be about $500 / yr.

I'm told that the roof was replaced about 12 years ago.

The seller might be willing to take a second for downpayment if I purchased at full price.

Does this sound like a reasonable deal or would you keep looking?

Any feedback / thoughts appreciated.

Dave