Purchase family rental? Is a 2% loan enough to make a deal?

[Cynthia Oistad]

My parents purchased a single family 2BR/2BA home in Las Vegas in 2010 during the housing crash for $65,000. They have managed it as a rental property for $900/month. They are interested in selling the property to us for the current market value of $139,000. They are willing to help us finance the property with a 30-year fixed loan of 2%. Rentometer shows the rent for 2BR in this area is maybe a little low, but not much. Avg $980 per rent. my parents have been paying about $500 in monthly expenses (netting $4000-$5000 a year in income) Some of the expenses include $168/month in HOA, $16/month sewer, $20/month for home insurance, $174/mo in property taxes. We don't live in the area so we would have to hire a maintenance company to service all repairs but plan to manage property ourselves. Using the BP tools rental property calculator and adding expenses for Vacancy and Capex, at first blush this looks like a terrible investment with -109.85 monthly cash flow and -263.65% cash on cash ROI. I would like to know how much I need to purchase this property for to make this a good deal? Is getting a "family" deal on the financing loan enough to make this a good investment? We are new to real estate. We would like to take advantage of this financing loan opportunity but also looking for an investment that generates some positive monthly cash flow.