Property Analysis Advice

[Ryan VandeVelde]

Hello Bigger Pockets Family, 

  This is my first post on the BP forums and I'm currently reading the "The Book on Rental Property Investing" by BP. After watching Brandon Turner's video on "Analyzing a rental property for maximum cash flow and future appreciation." I started practicing analyzing some deals in my home town. Below are some numbers I ran on a property in Topeka, KS where I live and plan to invest soon. Any feedback is certainly appreciated as I am new to real estate.

Property Details:

Single Family Home - 2bd/1bath, built in 1920, 773 sq ft.

I ran these numbers based on the full asking price of $55,000, however if I did this correctly this does not look like a wise investment and would need to come in with a lower offer. Again, any feedback is appreciated but I'm really wanting to find out if I am running these numbers correctly from a fundamental standpoint so I can build from here.

Thank you all in advance.