3bd, 1ba, pretty nice neighborhood, $22,100 --- Should I buy? (pics)

[Brett O]

I'm trying to decide weather or not this house will be a good investment for me. It can be purchased for $22,100 And it will rent for $600 per month. I estimate it needs $5,000 worth of fix up to make it rentable. Taxes are $1,600. per year.

So if my fix up estimate is right I'll have $27,100 in it, getting $600 per month rent. Good deal? It is an HUD property if that makes any difference.