Would YOU consider this deal?

[Charles Willie Harris]

So my 18-year-old nephew is the one that got me into real estate. He's been doing this for about a year and he's already done a few flips and deals (as opposed to me, who's only been doing this for two weeks).

Anyway, he reached out to me about a deal he found and he's actually looking for me to see if I was interested. I've never evaluated a deal before and I'm still on the fence about going in on it being so limited in my education. 

I need some help evaluating the deal and asking the right questions about it. I

Here's all I know so far:

1. The property is under contract at $55,000 and is going through Title
2. He'll be discussing with the owner for Land Contract(Seller financing).
3. If this is accepted, that's 20% down
4. $15k in rent rehab for a hold.
5. It's been certified by an inspector as Rent ready but he's thinking of adding an additional $5k into it.
6. $400 a month to the owner for utilities, taxes, and fees.
7. Will rent for $900-$950
8. All in for this option would be around $26k
9. With monthly expenses still cash flowing over $400
10. Over 18% ROI.

So he's been telling me there's a lot of opportunity into this. He's looking into the FOIA packet at the moment.
Since I'm so new at this, I feel like there's a bit more information that I need in order to find out if I'd like to pursue.

Any recommendations?