Advice on whether to buy or not.

[Edgar Gonzalez]

Hello I am a first time buyer with concerns on purchasing my first property. I am looking into a property in ewa beach in Oahu, HI with intentions to occupy and renovate for the first year and follow the next by renting out. My concerns being I am military and although the VA offers 0 down and a low interest of 4.83, the mortgage for the 2/1 900 sqft townhouse is a tad higher than what I would be able to rent out for (approximately 200-300 I would have to come out of pocket until the rent increases in the area). The market here is strong and growing rapidly from what I am told so I could possible break even on mortgage in the next couple years. Is this worth it? Any suggestions advice would be much appreciated thank you.