Buying first rental property

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Hello all,

I see a property that I think would be a good starter home or is this going to high with too much risk? A coworker of mine is trying to sell a family home that has been inherited. It was initially listed at 115, after 6 months they dropped it to 95, its in a decent middle class town, I mean people arent dying to move there but it is a good middle class town. I asked abiut damages and she said there is minimum which i know needs to be verified. I have been reading and doing the education but I know at some point you have to move on it, my question is what formula do you guys generally use to determine if you move forward or not on a rental property?