Advice on first property

[Morgan Carmichael]

  I have been trolling BP for a couple months trying to find my niche and start investing. Today, on my way to the grocery store I noticed a property that came up fsbo that might be able to get me started in investing. I do know exactly how to play the situation and was interested in suggestions on how to move forward. Here are the numbers: 

2bd1ba 933sqft asking 82K. It is currently a rental being rented at below market rate (695-725). The 2b comps are in the 50s and the seller alluded to owning the property for a while (might have some good equity built up). 

I am meeting with the seller later this week to see the property and am interested in what you guys think. If anything i can use this situation as an educational tool for the future. I really appreciate any input, thanks!