Seller financed rental

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Hello everyone! Found a FSBO on Zillow here in Louisville. Seller is willing to finance. Here are the details:

ARV=$70,000 (calculated based on being listed as a 2br, but could possibly be 3 or 4 br. 1450sqft)

Rehab estimate= $29,000 (flooring, paint, roof, HVAC, water heater, gutters, some bathroom updates, possible electric/plumbing...wasnt on when I saw property)

Asking=$39,000

Financing terms=7% interest only for 2 years. $5,000 down. After 2 yrs, balloon of $34,000 or option for 8 yr note.

Monthly payments= $198.12 (interest only) + any payments on borrowed rehab money for first 2 years. After 2 yrs=$472.05 (interest + principle) + paying off rehab.

3br rent in area=approx $1,100.

Nervous cause my rehab experience is limited (bought a mostly fixed up duplex a year ago, and have just done maintenance since). Is this too skinny of a deal? Is this too big of a rehab to take on? Thanks for any input/advice!