Profits on low end properties are always going to be cost dependent. What are the property taxes, expected maintenance costs, etc?
For example, if you purchased the place with cash, the 50% rule says you'll make ~$425 a month here. But if:
-Rent $850
-Property taxes $150/mo (not uncommonly high)
-Maintenance/capex $300/mo
-Vacancy $80/mo
-Management $100/mo (I'll get into why I don't think you're going to want to manage yourself in a second)
-Insurance $100/mo (varies wildly from place to place)
You're down to $120/mo already on your $75k investment. Not good. Your costs might be WAY lower, of course, but we don't have any of those numbers to work from here.
I will also say - managing and repairing things yourself when the property is 45 minutes away is a recipe for disaster. If you have to go out to fix something that will take 1 hour, it's going to be 3 hours including travel time. That's not good. If you have 20 of them and you can combine errands/trips, maybe. But otherwise it's a LOT of driving back and forth which costs you in both time and gas money/car depreciation.
If you can actually get $90k+ for the place, I'd probably flip it rather than rent it. But it would depend on the actual numbers.
-W