A few thoughts :
If you don't have a lot of cash on hand and want to build a portfolio ; why put so much down ? Find a lender that allows you to put 15% down (lender doesn't have to be local fyi).
I know you think you can't get a better deal because of your market and available cash ; but I'll tell you the truth : You can't get a better deal because of your experience ; not the market. An experienced investor can walk into about any market and purchase for a larger discount (off market). Google and study the heck up on 2 terms. 1. Wholesalers 2. Hard Money
The deal above doesn't sound terrible for your first if it had great curb appeal in a great neighborhood though ; however I would think great curb appeal in a good neighborhood would rent for 1% of its value ($1300-$1400).
Also did you take a GC or contractor to make sure you didn't miss anything ? If your a new investor it's easy for the eye to miss quite a bit of repair that will eat up the little equity you have.