First SFR deal under contract! whatcha think of my numbers?

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Hey guys! 

this house appears to be a flip that someone ran out of money on. they were close to finishing. it ended up going into forclosure. ( they tried to sell it before they lost it for just over 60k as is from what I researched)

small 760SF 2 bed/1 bath on a double lot that's fenced. I love the idea of small homes because around here a house twice the size doesn't get that much more in rent, so I would rather have a small easy to maintain home that a big number of people cannot live in and cause extra wear.  I have friends that live in the area and rent for $750/month and pay utilities for same size homes, however badly outdated so I feel confident that i can charge the same or slightly less and get good tenants with a very low turn over/vacancy rate on an updated property.

Final purchase price of = $30,500

total investment with repairs, closing & holding costs & 10% repair budget contingency = $54,000.00. 

I plan to do the bulk of the repairs myself (something i enjoy) and hopefully keep the total investment to around $45k.

Anticipated Rent = $720/month, tenant pays utilities.  

allot of the costs are driven by things that I want to do but some people may think are unnecessary at this time? I want to paint the house, cost of about $2,000, replace all the windows with lifetime basic low E windows for about $2,300. some other work which I want to do upfront that may be not 100% needed at this time. My Goal is to have a property that is very, very low maintenance and all major items are less than 10 years old.

attached is cash flow & a few pics of the house. its not a big 2%er like were supposed to search for, I have yet to see that golden egg in good areas in my town. I will be getting somewhere between 1.3% to 1.6% per month in gross rents. after tax refund season and using personnel funds (im the extreme saver type) I hope to have it close to fully paid off in 12 months netting me around $400 to $450/month for the rest of my 29 year old life, yippy! assuming I PM it myself. in the mean time I have a large commercial LOC available that I am using in the mean time with a interest only payment @ 5% which is what is shown on the spread sheet.

I dont have costs in my spreadsheet for PM because I prefer to do it myself but if I ever did go that route I think I would still have a profitable property.

Thanks and tell me what ya think, good or bad!