1st time investor

[Kristin Hairapetian]

Hi everyone. I'm very new to this so please bare with me. I am thinking about investing in a home near a military base that is in another state. I used to live in the area so I'm pretty familiar with it. I have a realtor that I trust in that location. My question is how much I should pay per square foot. The home is listed for $60k. $75 per sqf. It's been on the market for almost 2 months & has had a price drop of $5100 already. I'm just trying to figure out if this is a good investment. What should I be looking for? What kind of questions do I ask? Homes around this are around 80-85k how ever they cost less per square foot. Please help!
Thank you