hey quick question

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ok, i dont know much about real estate at all. i was thinking about buying a little house 1 bed, 1 bath. i was looking around the $50-$70k range, and i would probably pay around 300-500 a month right? then when i wanted to move out, i could sell it, and pretty much get my money back right? well i was wondering what was wrong about this idea. it seems too good to be true, is it possible to do this, does anyone do this? what kinds of problems would i get into if i tried this?