First property...live in/rent

[DB Brooks]

Ok, here is my situation. I work and make around $1100 a month after taxes and etc. Its not much but I'm also in school and grad sept. '14. In the next cpl months I will be receiving 10-13k and I'm working to improve my credit which is around 600. My plan is to buy a single family home that may be a minor fixer upper and to rent out 1 or 2 rooms. I would live in this house for the next couple of years until I move from this town and then rent it out completely and buy my next house. I'm in Gainesville Fl. btw. I guess my question is, what kind of #s should I be looking for? It seems alot of the houses I'm looking at would have a mortgage (including taxes and ins) of around 600 monthly and rent for around 1k-1200. These numbers seem really good to me but I want your opinion and any other advice you would like to offer. Thanks in advance.