Buying direct from owner

[Meg K.]

So, I am glad my credit union approved my appn for a personal loan since I decided to pay cash for a property for sale by owner. It is a 2 unit, 2 BD each. Not great area but i did not see any vacant houses on that street. Sale price for "as is" $28600 includes appliances (big deal?). Owner states house needs new roof. Zillow assesses the house value at $34k

Loan amount 20k @ 12.5% (ouch) for 60 months. Payments will be $454.25/mo

Balance will be paid in cash.

I can potentially rent each unit for $550/mo.

Worth it?

Thanks, Meg aka newbie :)