Finally Ready - Help me analyze please!

[Kimberly H.]

1. Duplex Homepath Property: 20 day look. on the 18th day.
2. Listing Price 99,900
3. Offering: 96,000 (hopefully they will accept)
4. Renovation: 10,000 or lower. Contractor looking at property this week.
5. After rent in the area: $800
6. Taxes: $2,900
7. Mortgage: Healthy Neighborhood Renovation Loan  
8. $96,000 + $10,000 (renovation) .
9. Closing cost: $7, 266.  (including taxes, title , insurance... etc.)
10. NO PMI (special program) and only 3% down.
11. 4% interest on conventional loan/6% interest on renovation loan until converted to conventional loan.  Interest payments only during renovation.
12. Mortgage Payment: $961.  If I wrap the interest payment and points in the mortgage the total loan would be $118, 381. Which is an option per the lender.

  Cash at closing needed: Only $3,180.  The offer would include asking homepath to pay 3% of closing cost.  I already have my certificate for the required training course.

1. Owner occupant... I will stay in one unit, but have a roommate paying $300-400 per month for a year and rent the second apartment for $825.
2. What would be your opinion on this deal?  If you need more info please ask.  I'm a newbie!