Analyzing my first deal

[Jerniel Diaz]

Hello BP family,

So after taking the advice of Brandon Parker and learning what's a good deal by analyzing 100 bad ones, I came across this one, located in Memphis.  The area is decent (according to multiple real estate agents, other BP members and the Trulia crime map), and I cross-referenced rental comps on Craigslist, Zillow and Rentometer.  The issue is, if I'm conservative with my numbers (which I like to be since I'm just starting out in this market), I get very very low cashflow.  But with rule of thumbs like the 50% rule, it looks pretty good.

I'm using a combination of the BP calculator and the 4 square method to analyze this, but I'm wondering if there are more experienced investors out there who could help me out and see how I can improve and what I might be missing in my calculations.  I will be doing conventional financing, and used a mortgage calculator with the rate of 5.9% interest, 30 year fixed.

Here it is:

So am I doing this correctly?  And is this a good deal or not?  Thank you for everyone's help!