Inherited house batavia illinois rental questions

[Jeff Borrelli]

Hi, I have been looking for my first rental property in the city of Chicago. (I own my primary residence, condo in Chicago).  This is my first posting on bigger pockets but I have been listening to the podcasts.  I am still looking for another place to buy also but since this one i'm about to discuss sort of fell into my lap, I'm trying to decide if it makes financial sense.  I of course do have a sentimental attachment to the house but I'm trying to keep that out of it.  

My father recently passed away and I'm trying to decide if I should keep his house and rent it out or if it's just not worth it and I should sell.  The house will be in excellent condition, (we are fixing everything in the home inspection I ordered).  I will need to put approximately $20-25k into it for good rentable condition, (new rental worthy floors, paint, appliances, countertops, refinish cabinets, vanities, toilets).

I think the house will rent for $2500/month.  4 bed 2.5 bath

The numbers are as follows: Current condition appraised (once we fix the inspection items which we'll want to do whether we rent or sell it) at $250,000; $110,000 is owed on the mortgage.  I own half of the house and would need to buy out my sister costing me $70k of that difference, plus the $20k mentioned above to rehab. Therefore, I am looking to be at $200,000 to own the house myself and that is what I would mortgage.  I will technically have $70k into it but that is already in it so it's no additional cash from my pocket, that's just my half of the equity.  I estimate a mortgage of 4% for 30 years at $955/month; Taxes at $670/month; insurance at $100/month; grass/snow removal at $100/month.  This becomes $1825 in payments but there should be no surprises hopefully.  It will need a new roof in 5 years, but otherwise, plumbing is good, electric is good, water heater, furnace should be good, etc.  I know I still need to account for all of those items breaking eventually but I would like some thoughts from somebody with more experience than me if possible.  Any help would be appreciated!