Buying this condominium in Denver, CO. What's your take on this?

[Tek Chai]

Here is a condo property that I may be interested in investing out-of-state (Denver, CO). To fund this deal, I have decided to use HELOC on a fixed rate of 2.42% for 12 months. Closing cost waived. After that it will be an adjusted rate. If rate is higher after 12 months, I am planning to make a balloon payment to pay it off.

HOA is quite high ($440/mo) The rental base on Rentometer.com is on the high side but all the utilities and amenities are included. My projected monthly cash flow is not great. Your word of wisdom and suggestions are welcome.

Attached is my rental analysis: