Closing in on my first investment property. Any advice? Comments?

[Pang Poeng]

Hello everyone, I'm brand new to real estate investing. I'm finally making the leap and ready purchase my first property.

I'm hoping to get feedback and opinions.

My plan is to fix up this property and rent it out. Property was listed at 300k, then negotiated down to 272k. After the inspection I decided to walk away. Then the seller came back and now I'm ready to lock in at 260k.

Here is the property information that I would like an opinion on:

• 1920 House, 2 bed 1 bath
• 960 sq ft home but on a lot size of about 14,000 sq ft
• Everett WA 98203 area

Major fixes that I need to contract out (some minor things that my wife and I will need to do sweat equity):

• New electrical, i'm estimating this will cost 7-8k
• 2 support posts supporting the house. 

Does anyone have an idea how much support posts would cost to replace?

I hope I can get some feedback from anyone around the area about rent information or any other information. My research is putting me at 1700-1800/month for rent.