2 family deal metro Detroit area

[William Ware]

OK here we go. Looking for advice, comments or deal or no deal. As a new investor I think I may have found a good deal on my first multi family property. I've taken the advice of this board and others to look at owning brick/dirt instead of condos/T-houses (my first two deals are t-houses :D )
Here's the details
two family
first floor - one bedroom (needs work to create 2nd bedroom)
2nd floor - three bedroom
full basement
has separate utilities (2 water heaters, 2 elec boxes, 2 gas meters
2008 taxes $2000 (love Michigan and taxes)
house mortgages in 2003 $120,000 and 2006 $125000
Should rent for $1600/month (both units)
best guess..needs $10-$15000 in improvements
most work will be done by self and family (brother is a carpenter)
great area (single families homes)
Sale Price $25000.00
This would be a cash deal
Look forward to your comments
Bill W