I don't know the area at all but the numbers you provided would indicate this is likely a loosing proposition as a rental. It looks like you are buying it at fair market value so you aren't getting much value in the purchase and you also you will also loose money monthly (the mortgage payment alone is almost your entire months rent). If you do have specific questions regarding the calculations I'd be happy to try and help.
I don't know the area at all but the numbers you provided would indicate this is likely a loosing proposition as a rental. It looks like you are buying it at fair market value so you aren't getting much value in the purchase and you also you will also loose money monthly (the mortgage payment alone is almost your entire months rent). If you do have specific questions regarding the calculations I'd be happy to try and help.
Brian
Hey Brian,
I am going to hold off for a bit until I clearly understand some more of the basic principles here. Thank you for chiming in...