Thinking about my first deal? I need help

[Brendan Flannery]

I am finally ready to buy my first rental property.  I just need to know what everyone thinks.  The house I am looking at is 125K, but needs paint, carpet, AC, and foundation.  The total for repairs is about 11K.  I can get a loan for 136k with 15% down @ 6%.  After repairs the property would appraise for $160k and I would rent for $1400.  I just need some advice, and motivation to do this deal if it is a good one.

Thanks