Buying my sister's house from her estate: SFR in MI

[Ginny Watson]

My 6 remaining siblings and are inheriting a small amount of cash and a 2 bedroom 1 bath SFR from another sister who died last fall. I am thinking about partnering with one sister and using our cash inheritances to buy the house from the estate. The house is in excellent shape with new roof, well, new garage, hot water heater, furnace and it's on a nice lot with nice landscaping on a nice street. But the market is soft and the estate is unlikely to get the $70-$75K it might be worth. I have fielded calls from lots of qualified applicants for renting it and was very pleased with the quality and quantity of folks who want to rent it. Unofficial appraisal comes in at $75K. The other siblings are not interested or cannot afford to keep the house for investment or sentimental reasons. 

Could you help me analyze this deal?

Purchase price $60K. Value $70,000
Down Payment and closing costs: $16K 
Expenses: $6673.84 (including mortgage, taxes, insurance, and allowances for vacancy, maintenance, cap X -none needed soon) Property would be managed by us for now but cash flow would allow for hired PM.

Rent: $725/mo
Yearly Income $8700
Yearly Expenses $6700

My analysis shows a 10% CoC.

I would not count on this property appreciating that much. I think we would want to hang on to it for cash flow in retirement.

I'm in Oregon, my partner is in Chicago but has a summer home near the Michigan house.

Thank you in advance for your help.