Help needed on possible rental property purchase

[Gabe Bouldien]

I am a rookie RE investor. I currently have 2 SFH properties in my portfolio and I'm trying to grow. After some negotiations I have gotten a house down to 350k, 4/2.5 2500sq ft. Rents go for 2800-3200. I'm confident I could rent it out for 3k. PITI $2200. Needs about 10k in work/upgrades. Planning on 25% down. My biggest hesitation is tying up this much money in a property. What should I do? I was all gung ho about it and now I'm freaking out.