Starting with a small condo to learn the basics, good idea?

[Julio Casal]

I’m looking into start investing in real estate somewhere close to where I live (Redmond, WA) but since I have never bought a property with the purpose of renting it ( the only thing I have ever bought is my house) I wonder if it’s a good idea to start with one of the few 1 bedroom, 1 bathroom condominiums that have recently popped up in downtown Redmond and learn the basics of owning a property and renting it. Would be looking for a small cash flow from it ($100-$200?) and hoping for appreciation.

Since these properties are not that expensive ($280,000 to $380,000) I feel like I can put 20% down and I can handle not been able to rent it for a few months (worst case) without going broke.

I’m still learning how to run the numbers to understand if these are good deals but I wonder if the overall approach to start with is good at all?