New Investor needs help evaluating a deal

[Quint Powell]

Hi All,

I'm looking at a single family property in southern Ohio that sits in the shadow of a manufacturing plant. I don't think there will be much appreciation due to the location. Purchase price is ~$60k. Rent is $750/month. I will have to do commercial loan because I am an independent contractor. Break down is below. 

My question is: would you move forward with this property?

Purchase Price: $60K

Rent: $750/month

Mortgage including insurance and taxes: $350/month

Cash Flow: $400