Financing to Rent...? Need advice.

[Danny Pena]

Hey everyone, (Still super new to the forum)

I want to go over some of the thoughts going through my head:

-I have very little to invest in Real Estate at this time,

-I have just been approved for a home,

-I am thinking about financing the property and renting it out for an approximate profit of $200 a month (after Condo maintenance fee or HOA fee).

My main question is:

I want to profit AT LEAST $200 on this property (my first property). If the property is $40,000 - my monthly expense/payment is $600 and I can rent for the property for $800 -

Is this really a good investment, pending the place is move-in ready?