Making first deal. I think it is a decent deal?

[John Irvin]

I’m 50 years old and have been wanting to invest in real estate for quite some time.  Finally talked my wife into getting a rental property.  My goal is to supplement retirement income and possibly retire a little earlier.

We live in a small town 7,000 to 8,000 people.  But have towns of 100k within 30 to 40 minutes in each direction.

We found a property and close in two weeks. The deal is $25k cash. Looking at between $10-$15k in repairs/renovation. ARV should be at least $55-$60k

 Based on comparable rents we should be able to get $600 to $650 a month.  Property taxes currently at $950 a year.  Calling my agent for insurance about $65 a month for insurance.

Putting numbers into the BP calculator I should have positive cash flow.  
Everything seems to suggest it’s a decent deal.  Just looking for advice.  Did I miss something.  Any advice or tips on rental property for a newbie.  Especially from anyone in similar markets.