should i buy my first rental in this sellers market

[Amit Shah]

i did research and finally came up that i would like to get rental property around jacksonville area. currently i am living in NJ>. but eventually would like to move to Florida.This would be my first rental. i am in talk with property management company over there.. they will help me buy/rent property for 10% of monthly commission. so here are some questions which i am struggling.. my budget is around 150K (20% down from my pocket and rest would 30 years loan). should i even consider buying in this market.. or does it make sense to wait it out.. just because this is sellers market.i have looked at some condos and stuff.. and ran some numbers.. and conservatively i am looking at around 3K cash flow per year(after all the expenses). does this number make sense ? would you buy rental property with HOA or single family house without HOA ? but then would will cover landscaping ? would be cheaper that way ? my property manager is telling me for buy condo.. because it is easy to rent..also would it make sense to do 1 years lease or 2 ?

Please criticize my plan.. and give me some good advice.. i am really nervous and scared.. since this would be my biggest investment yet..

Thanks