Should I wait or invest into this property? Am I moving too fast?
Little bit of a background. I am 25 and I have a full time job and I own a rental property. I want to buy another rental property but can’t decide if I should pull the trigger on this one. The thing is I recently bought this 2 family home and put it on rent and the house next to it also went on sale. I want to buy that one as well. My debt to income ratio is 0.58. I wasn’t sure how to perform that calculation. This is how I came to that ratio 
Mutual Fund	350
Stocks-	1450
Loan (low interest) - 500
Car/Gas/misc.	500
Mortgage on rental property	(including taxes and insurance) 1500

I added these up to 4300 and I make about 4000 from my job and 3350 from the rental property. I just started to make this much money like last month. 

4300/7350 = 0.58 

I have about 75000 in stocks/mutual fund and IRAs. 

This other house that came on market needs a lot of work. It is going for 135k but with work and closing, it will end up costing me 165-170k. 

The question that I’m asking myself is if I should get this house or not. I am positive i can get a loan out for this property. Do you guys think I am moving maybe too fast? Please give me your 2 cents and I appreciate all of your time.  Thanks
[{"id": "i5ue67f", "text": "I\u2019d say it\u2019s a bit fast unless you have a ton of experience with renters/repairs and are backed up by legal in case they need to sue or you need to protect your assets. In general , I don\u2019t think it\u2019s a good time to by just to rent out.", "replies": [], "depth": 1}, {"id": "i5ue7c6", "text": "How long have you been at your job? Did you do an inspection? Walk the property with vendors? How are you coming up with that repair total? I might be missing something but did you mention what this would rent out for and the value increase? That\u2019s the context I would like to know.", "replies": [], "depth": 1}, {"id": "i5ul4ww", "text": "Ask yourself: if you fail to rent out the new house for any reason for 6 months, what would your financial situation be?", "replies": [], "depth": 1}, {"id": "i5vgm4t", "text": "First, I don\u2019t normally see posts about real estate investing in small scale stuff in the Commercial Real Estate sub; usually they discuss strip malls and NNN. Might be better to post in r/realestateinvesting. \n\nSecond, I would start with knowing what debt to income ratio is. You put a bunch of stuff in the calculation that isn\u2019t debt. Your debt should only be the mortgage and the short term loan payment so $1450 + $1500 = $1950. If that\u2019s all the debt you have, then out of your total income of $7350, your ratio is more like 27%. However, a bank or other lending institution may not consider the rental income since it seems like that\u2019s fairly recent. Normally, banks like to have a \u201cseasoning\u201d period of a year or two before they consider the income from the rental property. \n\nAnother thing you can do, for the next property, go for a commercial loan by putting the next property into a newly formed LLC. The commercial loan will have slightly higher interest rate and will require a higher down payment. But they only look at the properties ability to perform rather than all of your personal debt/income ratio, seasoning periods, credit score, etc.; a lot less paperwork overall compared to an FHA/conventional loan. But if you can swing a lower down payment and don\u2019t mind the scrutiny in your finances, the conventional loan would likely be the more desirable option.", "replies": [], "depth": 1}]