First Single Family Home investment, what do you think about it?

[Cole Shawd]

Getting close to buying my first single family home property and wanted some final thoughts on my projections and this property. I have a solid idea of where everything should sit, but getting final thoughts on the forum will help the confidence on this decision :)

Property is in a growing community of 200k in the Midwest. Nicer lower income area. Quick numbers:

- Buy for $60k, put $5k into it = $65k total

- 20% cash down, 80% financed

- Currently 1 bedroom 1 bath, going to add 2nd bedroom for increased equity and cash flow

- Rent for $800 a month

- Each month after all expenses including vacancy, repairs and future capital expenditures it will cash flow a $100 a month.

For the price of the house, being my first one, building equity off the bat, and ok cash flow...is this a good start for my first single family home? My answer is yes because it checks the boxes, but just wanted some final thoughts or feedback before putting in an offer. Thanks!