New to site and first property under contract

[Mitch Crofts]

Good evening all,

I am new to rental investing and have been eyeing a place to make my first investment.  I made my first offer of $60,000 on a listing of $65,000.  It was accepted and due diligence runs out on Thursday at 10:00am.  Since this is my first investment I want to make sure I am making the right move.  The property needs approx. $1500-$2000 of minor repairs to make it renter ready for $950-$850.00 a month.  I am putting 20% down and the numbers say I will be flowing approx. $320 a month.  The house is dated but has a new roof, although it doesn't have central heating and air, only window units and wall heaters.  Any feedback if you would proceed with the contract or not would be great for this first time investor looking to get into the world of rental property.

Thanks so much in advance!!!!

M