Rental property investment advice!

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Hello Bigger Pockets family! We found a turnkey SFH walking distance from historic St. Augustine Florida. The seller was asking 185k and we asked for 155k with owner finance for 5 years with 5% interest and 65k down payment. Seller will hold the loan of 90k. The average rent for 3 bed/1 bath is $1500 but the payment is $1700 per month. Taxes $200/month, Insurance $50, Management $150 and Misc. $50/month. That is $650 we will have to pay out of pocket for the next 5 years! The property is in a very desirable area and there is nothing for sale for under 250k unless it is a gut job. We are thinking to suffer these 5 years and then have a paid off property that is worth 250k from what the comps show now.

Our cost investment after the 5 years will be $124k invested included the interest from our pockets plus the rents. The scary part is not having any cash flow... and just praying it rents right away. Please any advice helps!

Maria