Please help me analyze.

[Luke Respondek]

Hi all, brand new to bigger pockets and to real estate investing. I am having the first time buyer nervous jitters. Thought maybe some of you all with experience could give your two cents worth. I am considering purchasing a home for about $48,000. It is in pretty good shape. I would probably do a little work in the upstairs to make it into a three-bedroom home. The real estate management person told me the house would probably rent for about $700 per month. I figure I would have about $50,000 in it once I finish the upstairs. The house is on one of the worst Streets in the town, but it is several blocks from where the problems are. I would probably need to use about $20,000 from my line of credit and would probably have it paid off in about six months. Management: $75 month Taxes: $600 per year Insurance: $650 per year Does this seem like a good purchase? Or keep looking? And thank you in advance for your responses.