I wouldn't spend $900 on that one. Parts are going to be hard to find, which == expensive.
I'm a bit biased having owned a half dozen of them, but I'd be searching for a South Bend. With some patience, you can find 9" model A or B for under a grand. SB made 800,000 of them, so parts are plentiful and (mostly) cheap. A 10" or 12" Atlas/Craftsman would be a good 2nd choice. They're a bit lighter than the South Bends and the flat ways make them (in theory at least) a bit less accurate.
As for the motor, I've never had any issues with single phase 110v motors on smaller lathes. In some ways, you're better off with too small rather than too large. If something goes wrong, stalling the motor is far preferable to breaking gears and other parts.
Lastly, before you buy any lathe, read
METAL LATHES – A BEGINNER’S BUYING GUIDE