Rental ROI

[Melvin Benzaquen]

Hi I am new to BP nation and would like some advice on purchasing a rental home. I am considering putting in an offer of 55k on a 65k ask for a 3/1/1. I may end up somewhere closer to asking but the house needs a kitchen and some work on the addition that was badly built. I think about 7500 will finish the home out. My question is this: if I end up with about 72500 worse case in this home with rents running about 1000-1200 monthly is that a good return and a wise investment? Thanks!