should I buy this new construction home?

[Yanting Wang]

Hi everyone! I am currently looking at buying a new construction home as a long term rental property. sales price $214000. first my lender told me I can do 0 down. and I am really excited about this deal. but later he told me that am not qualified for 0 down because of my income. the other option is that I can do fha with 3.5% down, 6.125% interest rate. cash to close is $14000. my monthly payment is around $1575-$1590.

it can at least rent for $1700 as a long term rental property. I can have cashflow of $110-125.

my question is it still a good deal? should I buy it?