First deal with a townhouse

[Yushi Tan]

Hello BiggerPockets community,

This is my first ever post so I like to introduce myself here. I'm an electrical engineer working in the customer service area in the greater Boston area, basically answering phone calls and emails to solve engineering problems for customers. It's a pretty stable job but I'd like to achieve financial freedom at some point so I have to start somewhere. I've been listening to the podcast now for couple months on my commute, also read the rich dad poor dad, set for life and the book on rental property investment, about to start J Scott's book on estimating rehab costs and flipping houses. 

Looking at Zillow, I found this newly renovated townhouse in Enterprise Al for $60,000, 2 bed 2 bath and 1000 sqft. Just outside the base and the neighborhood seem nice. The property seem to be in good condition from the pictures and the agent gave me a video tour as I requested today. Everything seem to be in good condition but the washer and dryers are old but they work as per the agent. 

I can get financing without a problem and I can afford that 20% down payment. I was in the military before so I think the VA loan can be another choice as well. The unit does not have a garage though so the agent told me that the rent will be around 600-650 compared to 850 for the units with garages in the area. Rentometer suggest that the rent in the area should be around 750. This passes the 1% rule/test. there's no HOA or anything like that, so the P&I, taxes and insurance will be around 330, factoring in the property management of 10%, it's couple hundred dollars cash flow every month if I take out a 30 year loan. Being outside the base should be helpful when it comes to renting it out.

This will be my first deal and I'm wondering what your opinions are on this. Anything else I should be paying attention to? Is this a sound investment? Sorry for the newbie questions and thanks in advance guys and gals. 

Cheers,

Yushi