I'm new: trying to evaluate first (small) deal

[Adam L.]

So I'm new to this, still haven't jumped on a deal yet.

Anyway, I'm trying to understand the numbers I'm seeing on the calculators.

I've found a pocket deal in Austin, TX that looks real interesting!

• 2br/1ba condo near downtown (William Cannon & Pleasant Valley), 1975 built
• $105k asking price (off-market)
• direct comps sold for $145k recently, w/ Trulia valued @ $135k
• rentometer says $1195/mo
• $190/mo HOA fee (I need to find out what this covers)
• $155/mo taxes
• not the nicest interior, but its rental ready...could use some modernizing, or leave it as is.

So my question as a novice 1st-timer...I have the cash on hand right now to buy this easily...I'm not sure what I'm reading from the calculator if this makes sense or not.

I assume you buy it outright for $105k, then immediately try to refi out at full appraised $140k-ish. 

It seems like this would cashflow w/ minimal effort and low vacancy at the lower end of the rent ($1195).

1. How much to mortgage/refi? 80/20%?
2. how does a novice evaluate this?
3. Do HOA fees get passed on to the renter?

https://app.dealcheck.io/#!/app/rental/-LZG1ClOCKP...

https://www.calculator.net/rental-property-calcula...