To buy or not to buy? That is the question.

[John Dersoe]

After some deals have settled out and debts paid, I'll have 100k to invest in Tampa area.. maybe the surrounding areas like Riverview, Plant City, Brandon or Clearwater, Largo etc. Am I missing something? I run the numbers and a +/-280k SF property (2/2) with 80k down and some left for improvements and an emergency fund.. it's around 950 a month for the mortgage. Home insurance is 180 a month (insane and seems like it's going up by the day).. landscaping 150.. I guess you see where I'm going.. I'm well over $1200 on a place before the rest of the bills are paid. Seems like I'd only make a couple hundred dollars a month being a landlord. I figure if one thing (roof, A/C craps out) I'm screwed that year.

Rents in Brandon, for example are about 1600-1800 for a 2 br unless the property is brand new, modern, upgraded appliances, etc..  then the rents are 2000+ However, my initial purchase price would be more like 325k instead of 280k. What do you think? Is it even worth it?

Side question.. would any of you consider a condo/apartment instead of SF where the expenses/landscaping/insurance is less if the HOA was a reasonable amount? Pros/Cons?