More eyes on SFR analysis please? (First deal!)

[Suzanne A.]

Hi everyone, I'm currently looking at a ~1100 sqft 2 bed 1 bath townhouse with a finished basement in a B-class neighborhood.  I've been to see the house twice and it does not need a lot of work. It's basically move-in ready.  The house is a short sale and the bank already approved the price of 113K.  It would rent for 1100/mo (the low end of the neighborhood comps) because it is only 1 bath.  

We are still waiting to hear back from the agent about the age of the roof and the HVAC.  But the house was built in 1990 so my feeling is the roof is original and will need to be replaced soon.   The asking price (which is approved by the bank) is probably about market value, but I'm not sure the deal is worth it at that price. If it had another half bath I could justify a higher rent.  I think they'd agree to 110K but I'd really love to get down around 100K (I doubt the bank would do this).  My loan officer just checked our credit scores and my husband and I are both around 815.  The numbers below assume a 5.5% interest rate, except for the third column which is 5% (my officer said if we put down more than 20% then the interest rate would come down).

Does anyone have any thoughts? This would be my first deal (I already have a cash flowing SFR but it used to be my primary residence). Thanks so much in advance!

Here are the numbers.