Condo rental property in Princeton, NJ?

[Justin Suh]

Hi BP Community,

I am a 1st time buyer who has been trying to figure out how to start building equity in RE. My wife recently got into TCNJ for a masters program and we're considering moving down there to start. I am not too familiar with Mercer County area, but we're tinkering with the idea of buying a condo (2BR) for less than $300K at 20% down. The idea here is to live here for at least 2 years while she is at school then rent it out (preferred) / sell if absolutely needed after those 2 years. I also work in NYC so the train station makes it that much more attractive.

There seem to be quite a few condos with HOAs below $400/month. This will make our monthly payments (w/ mortgage, interest, taxes, HOAs, etc.) roughly between $1900-2100/month. It also seems like its possible to rent out a 2 BR in the Princeton area for $2000+. 

I would love to get people's thoughts who live around the area / suggest other areas to explore. I hear Hamilton is an area to explore as well...but not too familiar. 

Thanks in advance,

Justin