Newbie from Central Florida

[Jennifer MacDonald]

Hello! Totally new to real estate investing but have been doing alot of homework. I've read Brandon's book at least 5 times already, along with a few others.  I have no experience in real estate, in fact, work in the medical field.  I have a family consisting of my husband and daughter.  We are looking for ways to diversify our investments and real estate really appeals to me. 

 Have looked at a few properties and hit on one that I think might work.  We are looking in a college town that was recently voted the #1 rising town in Florida.  Right now there are very few rentals in the area and the demand for rentals is high.  Utilizing Brandon's recommended formula to calculate your expenses over and above the mortgage, taxes and insurance the break even number would match the rent, likely no positive cash flow or very little cash flow (maybe $50 monthly).  Again, this is using figures for property management, capital expenditures, vacancies, etc.   This makes me nervous but also don't want to miss a great opportunity so wanted to get some feedback from other investors.  

Of note, this is a  2bed/2bath single family home.  Has renters already til December 31st.  Has had some updates to the property like double paned windows, new carpet and paint the beginning of 2016.  Roof may need some attention but have not had an inspection-this is just general observation.  Property otherwise in good shape in a great area. 

I'm just looking for any feedback on the "numbers."  Makes me a little nervous about how close the rent and expenses will be but everyone anticipates in this area real estate is going up and up based on the great reputation of the college, the growth in the area, etc.

Any help is greatly appreciated!

Jennifer