Wanting Comments for Orlando Florida deal

[Scott Harper]

Before, I pull the trigger I wanted to hear from others. I have a contract on 4/2 block home, 1659 sq feet. One year old roof, three year old ac, 18 in  tile throughout. This wouldbe  a brrrrr strategy.150 k cash deal not hard money. After mgnt fee and exp and taxes about $200.00 cash flow after financing when rented.rent will be 1495.00. I have rental comps and All sales in last 6 months within one mile about 120.00 sq foot so would put aprox appraisal at 199,000.00 . It will need about 10k to get ready to get the 1495.00 rent. Longer term expense another 10k to get over that 199,000.00 Arv. So, it looks like I could have 25 to 35 k in equity when I finance.. I have itemized all expenses slightly high to allow for error.  It is in A area in Seminole county, with two A schools elementary and middle walking distance for kids.   What do you think?