I want this to be my fist purchase...should it?

[Scott Robinson]

I have an opportunity to buy a property for about $120k, ARV $160k. 3/2 in a decent neighborhood around DFW. House has general wear and tear but no major issues that I see and do not plan on putting any money into it right away. Comes with an existing tenant paying $1175 (market would be $1300). I would use a conventional loan to finance it unless there is a better idea that I am missing. My plan would be to owner finance to the tenant if they wanted or rent it to them until I found an owner finance buyer. My end goal is cash flow. I am worried about missing an opportunity but also don't want to bite off more than I can chew. Thoughts? Thanks Scott