Long Term Rental by assuming loan; risky idea?

[Jared Schott]

Hi folks I previously posted about a 5 bed 4.5 bath house for sale at 590,000 and has been up for 60 days. This house has an FHA loan that I can take over and all in it'll be 2k/month. however, the amount left on loan is 310,000 at a 2.75% rate. so, if I did 590,000-310,000 I would have to come up with 280,000. I could probably get it for cheaper but just for now I want to see worst case scenario.

This means I would take over the loan and pay 2k/month on top of needing to come up with 280k. I am currently not making much income however next year I will be making 70,000 and it will grow from there. I do not have that much cash sadly, but I was curious what your guy's thoughts are on financing that amount. could I get a decent loan for it? is balloon payment a valid idea due to my increase in income in the coming years?  I am open to any and all advice. Thank you! 

Also, it is a new build, so maintenance is going to be minimal 

Rent Numbers:

I can rent the house out for 2800/month conservatively (maybe 3k)

Loan Details: 

mortgage remaining: 310,000

FHA matures 10/1/2050

rate:2.75%

asking price:590,000