Starting out w/ sfh...ideas welcomed.

[DB Brooks]

I am almost to the point where I can buy my first home.  It will be a sfh and I plan to live in it for a short period of time then fully rent it out.  I have not had a chance to fully research the house that I'm interested in but how do these numbers sound for my first deal?  Listed at 70k (this is lower than most homes in area) 3bd/2ba.  Comps. in the area rent for 1k+/-.  I have not checked it out so Idk how much work it will need but the interior will need a face lift.  I am thinking about taking on my brother as a partner.  Any thoughts or advice on this would be greatly appreciated.