Need Advice On My First Single Family Home Investment

[Phillip Marshall]

I'm looking at house that is recently foreclosed, estimated at 50k. The house needs some repairs that we are estimating at 3-5k. The expenses are at $393 and similar houses are being rented in the area at $775-800. Cash flow is $381/mth and $4,581/yr. CoCROI is at 29.95%. The house is in a B class neighborhood right across the street from a nice highschool. This is also a military town so it is a big rental market. 

What do y'all think of this deal and do you think I should take it?