Contingenet on my 1st out of state BRRR property in WI- help! ;-)

[Kuriakos Mellos]

Hi All! Need some guidance here as I am getting a little out of state first time anxiety buying fears. During covid, I have been doing research, interviewing property mgmt companies, talking to banks, and doing visits to Milwaukee (Great city) to try and find the right first property to invest in. I thought condos was the way I was going to go, but increasingly was sold on the idea of a SFH. To be honest, never thought SFH's were such a good rental property. (Any feedback on how it's been for you would be awesome.)

Neverthless, I found a little  house on a 1/3 of an acre lot in a great area, walking distance to a charter school that has stellar reviews - park around the corner and lots of young families moving in. The area is immediately south of Bay View (For those of you familiar with WI.)   

The house:  about 670 square feet, no garage, no basement - newish roof - great exterior - AWESOME huge yard - but the person who got it to try and flip it did a horrible job (he bought it for $66 K two years ago) and did not finish it.  Seems he ran out of money, is a destressed owner and is using his mom to help him sell it.

I drove up and saw it once, liked it - made an offer. Went a second  time with a contractor who pointed out a few things that could be fixed - gave me a rough estimate as the costs. And going a third time to go with the inspector to make sure structually the sound is good, and going with a friend who is very handy with contractor work to give me his opinion.

Maybe I am being over paranoid for this first time, but I want to get this first one right and Milwaukee is only a 1.5 hour drive from me.

The numbers and where I need help/guidance:

Listed for only $95 K, in contract for $88 K.  Down payment will be $17.6 K, Closing Costs another $4ish K - Rehab costs (which I can put on a card  - gotta get them points!- will be about $12 K ).  Total costs = $33,600  The property mgmt company I have partnered with is convinced I can get $1400 if I add airconditioning - which I am considering - other wise we are looking at about $1100 to $1200.  My monthly P+I+Taxes would fall under 600 plus 300 aside for maintenance, cap ex and vacanty I am just under $900.  Cash flow approximately $300 a month.  Annual cash flow = $3600

If I do my math rate for this my return is about 10.7 %?

My hold up - do I try and rent right away - take the lower rent for now and add air conditioning later?  Is this a first good deal?  Do I invest a little more on the upfront costs to get the higher rent?  Am I over anayzling?

ANY AND ALL FEEDBACK WOULD BE APPRECIATED.  THANKS ALL!