potential rental deal, need feedback

[Mario T.]

Hey everyone,

I'm looking to acquire my first rental property. Did my research, the numbers look good, but just wanted to get the people's thoughts before I go through with the transaction.

Price: $13,500

Repairs: $40,000 (contractor estimated $35k then I added another $5k to be overly conservative)

Total Investment: $53,500

Monthly P & L:

Rent: $800

Taxes: $96

Prop. Mgmt: $80

Insurance: $87.58

Deferred Maintenance: $50

Vacancy: $80

Profit per month: $406.42

So tell me- deal or no deal?

Thanks for reading and responding.