Small Single family home deal advice..

[Danielle G.]

Hello out there BP...

I have a deal here i was wondering if you guys could give me some feedback on it. I have run it through the calculator a few times but im still not certain. heres the info

Small 570sq ft single family home 2 bedrooms 1 full bathroom recently renovated new kitchen cupboards, flooring appliances, fresh paint, upgraded windows and siding, new shingles on the roof. it also has a completely fresh slate in the basement ready for any reno i want. single detached garage nice yard and close to town walking distance to everything. Its in the small town of Manning Alberta.. yes canada lol. I'm finding it hard comparing deals and what not with all the american info on the site but its still helpfull non the less.

its on the market for 87,000. taxes are 1000... im looking to buy and hold this place.. maybe even reno the basement hopefully make a bit of equity anyways. The place is for rent right now 750/month not including utitilies... the town is in need of rentals.. so i can basically guarantee it being easy to rent as the realtors in town say its been great.. they are also the local property managers.. haha small towns. i have 5% down.. so i also need to pay the canadian CMHC insurance of 2603 added onto my mortage. the house is so cute.. yes i know that sounds emotional and i know this is a numbers game.. but I think its a perfect little starter place. I also dont mind staying in the basement while im fixing it up!

ps this would be my first investment so i wanna start with somethin small!.. i have lots of time on my hands cuz i work a 2 weeks on/off schedule so it might be a fun basement project for the winter!

anyways thanks so much in advance for all the advice this website is the best!