Am I making a mistake?

[Jessica Baez]

So it may be a little late for this post, as I am already under contract but I figured what'd be the harm in asking right?

So I work for a new home builder, we have 2 bedroom 2.5 bathroom town home community. I'm getting all my closing costs paid for, 4% discount, and I'm doing 3.5% down. I'm purchasing it as a residential property, living there for a year, then renting it out. The total amount of my loan will be about $110k. There are no rentals in the location I'm purchasing, its mostly single family homes in that area. I can't determine if that's a good or bad thing. It is right down the street from a shopping mall and a great charter school. 

I talked to my lender and she said I can purchase another residential property as long as I have the rental income reported on my next W-2. 

What would I need to rent it out at to see a profit?