Advice condo Investment

[Hyacinth Solis]

I'm really interested in buying a condo to rent it out. I went to see the property today. The place is not bad and just need painting and the 2 small closets need new carpets. The property is in a good condition. The tenant just moved out this week. My agent said that there's a lot of people looking to live in this area. It's in Kenner Louisiana. The condo is listed for 130k, HOA $255. The agent said I can rent it out. The HOA covers the exterior of the building, water (agent still looking what else are covered). I'm going to put down 20%. I haven't made an offer yet I just need help if this is a good investment.

Thank you! 

[Ian Walsh]

The HOA is always a concern to know how they are actually managing the funds and if there books are straight. Condos and vacation homes are the most risky plays during a market turn in regards to values dropping.