Rental Property Analysis

[Patrick Rowe]

I have opportunity to purchase a single family 3BR 1.5 BA 1610 Living area with a tenant already their paying $900 per month. The asking price is $65,000 for the property. I have a banker that will do a 100 percent financing at a interest rate of 5.75  for 30 years. What do you think about this deal. I'm coming up with $371 per month in cash flow if I manage it myself. The property value is around $102,000 according to the comps.