Looking for thoughts? Studio Apartment

[Sean Smith]

Hi there guys and gals

My friend and i have decided that we need to get something going in terms of a real estate investment. We have about 10K for a down payment and have actively been educating our selves and searching for something to start out with.

which has led me to this unit.

studio apartment in a desirable inner city community. there looking for $89K. the community it is in has some fairly high rental fees after lookign a studio apartment in the community could run anywhere fron $800 a month to $1300 a month. im leaning a bit more towards the range of $900-$1000 a month.

Calgary currently has almost a 0% vacancy rate (we had a major flood which wiped out a bunch of units) so there is a very high demand for units.

The condo fees are $220 a month + electricty (tenent will pay). My friend and i both make over 40K (each) a year and i have $0 debt (he has student loans).

we are considering incorporating to reduce risk on our behalf should anything go south.

Any thoughts/ advice i have a lot to learn and im currently working my was through the pages of posts.

Sean