Not going to make huge returns at those numbers but if you maintain it well while you live there it can be a great way to start building your portfolio without a huge out of pocket cost.

. $1000 positive cash flow per month seems high.The fact that the property is 100 years old may have a definite effect on your cash flow.

@Brighton Masuka we still have 3 single family rentals that we’re maintaining but our focus is on acquiring apartments.

Scott's The Book on Flipping Houses, the positively portrayed in that book and in the you tube videos is what drew me to BP. 

So you will be in better position if you buy it little less than $70,000.

I would say if cashflow is positive and your criteria has been met I wouldn't worry too much about the appraisal.

Sounds like you're doing all the right things to position yourself for your first purchase.I couldn't agree more with @David Cruice - I think it will be important for you to find a local bank / credit union to build a relationship. 

At this point, however, the cost of entry is very high, and I don;t know if appreciation will continue at the same rateIndiana is cash flow positive immediately, but doesn't appreciate in the long term as much- historically. 

If I won’t have a positive cash flow each month, is it a smart investment?

Are the roofs, lawns, exteriors all well maintained?