Condo Buy and Hold cash flow

[Brandon Eleazer]

Has anyone had success with renting a condo unit with positive cash flow? Due to condo fees (at least $200-$300/monthly), this seems to eat up all the potential cash flow. I don't see the 50% rule working well once the HOA fees are factored in, even when the purchase price ($40,000) and rent amount ($800) support the 2% rule.