Looking for Insight on a possible 1st Rental Purchase

[Riley Barclay]

I have an opportunity to purchase a SFH from a friend that is currently a rental. This will be my first rental property and have been doing as much research as I can but am looking for some thoughts and help on this one. He wants $110k for the property and it currently rents for $1080 (about to be $1100 in March when lease is re-signed). Come March, the property will meet the 1% rule and the tenants that are in the house have been in there for 3 years without any issues. Remax is the current rental property manager and I would be looking at just transferring ownership from him to me. It would be an out of state rental in Ohio (I am in Arizona). What are some thoughts on this. Should I look more into pursuing this opportunity or look for a better deal? Ideally, I would like to be a little above the 1% but a guaranteed tenant (for the time being) that has been trouble free as a first time investor sounds pretty good as well to start into this business. My goals are long term and cash flow. Thanks for any help! Let me know if any more info is needed as well. The numbers line up pretty well but the taxes are about $2500/yr and I would be putting 20% down. For a turnkey property it seems like a decent opportunity.