Is this enough reason to buy? (and A reason to househack?)

[Richard Burke]

Hey all, so i'm seriously considering buying a single condo (2/2) 930 sqft.. EGAD! A condo!

I'm currently looking for an apartment in the meantime, which has really pushed me to consider getting the condo- Here's why.

A) Rent for a 1/1 apartment is $900-1000/month.

B) The condo I am considering is listed for $99,000 and has updated kitchen/baths.

C) The monthly mortgage (PITI + condo association fee) will be 597+ 97(PMI) +270 = 964.

Compare C vs A.

Get a roomate (how much would someone pay for a room/private bath? - again, see A)

So for nearly the same amount of money out of pocket I can buy a condo (FHA 3.5% vs first, last and one month security)

My current salary will allow me to have pay additional payments to the  20% equity fairly quickly (I take home $1700 biweekly) I am also to receive two $5,000 bonuses at my job within the next 11 months. Even if I couldn't or wouldnt get a roomate (my salary can easily cover my expenses) I can still pay down the mortgage and refinance for a lower monthly payment after two years.

Looking at comps, a typical 2/2 starts at $1200/month. The listings I looked at had dated kitchens as well.

Am I crazy or does this sound like a fairly safe and logical deal?