Analyzing my first deal

[Thomas Mason]

Howdy, 

Being new I have a lot to learn but i want to walk through an exercise to analyze a deal that with my numbers do have a very good return but being human I'm sure i will make mistakes.

Property - 2/1 single family house for 50k requiring about 5k in repairs (Definitely paint and there is no fridge and some of the floor is badly stained) that received a new roof in July 2014. There is a similar house next door that sold for 60k 2 months ago. The area isn't the best (c) but since i live in the area the going rent is between 700-900$ for similar 2/1 houses. Annual tax was 576 for the last 4 years.

Inputs 

Purchase price - 50,000 (loan with 20% down for 15 years @ 5%)  

Repairs - 5000 

Closing - 5000 

Monthly rent - 700-900

50% rule expenses - 350-450

Loan Expense - 316$

700$ rent the number I feel comfortable with being conservative i have 700 in income 350 in expense and 316.32 in loan payment with a positive cash flow of 33 For my first deal I'm looking for positive cash flow. But I'm not sure what other metrics i should look at for this being a good or bad deal.

900$ rent the number i feel least comfortable with the cash flow is 133$ which is 4 times the cash flow for about a 30% increase in rent price. 

Any assistance to help me look at this deal a little better would be appreciated I'm going to run it trough the calculator on BP but again I'm not sure what would make this a good or bad deal when i look at the report. 

Thanks, 

Thomas