Should this be my first single family rental?

[Andy Walsh]

Greetings! I am looking to start into residental rentals. I found this listing and I honestly don't know what to think. The outside looks like its in decent shape. I would of course need the pool removed to rent it. But the inside is GUTTED apparently due to fire. It's in a quiet town extremely close to Des Moines Metro and in a good school district. I'd call this town a super tiny suburb. I am confident that if I do the remodel nice I can get $1050+ a month. 

Here is the listing.

Here is the Assessor's information

My questions and concerns are: 

• -Cost obviously. This is a blank slate inside. I've not done this yet to when i look at the pictures I can't decide if this is a gem or a turd. AM I looking at $40,000? $50,000? More? (Can any of you help me dial that in a bit?)
• -1 bathroom. With it being gutted I might be able to add a half? 
• -It was purchased by what appears to be an investor in December for 30,000. They must have decided to not go forward with remodel. I'd try and get it for that price or less if possible not only to make it feasible but it's just not worth the listing price in current condition. Assessor has nearly the same value, but it's gutted. 

Please help! Any advice, estimates, or red flags I want to hear!