Are 2BR Condos in Houston, TX for 62k worth the investment?

[Nick Tarantino]

I'm considering buying rental properties in Houston, TX and starting off with a 2BR condo. I want a property manager to take care of it.

I believe the HOA fees are $300 on average. With a 20% down payment, my main monthly expense (HOA, mortgage, property manager fee) would be about $760. I can mostly likely rent the apartment out for $1200-1300. This means I'll have $500 or so left over per month.

I would like to work up to purchasing five of these condos over the next two years if the first one goes well.

Do you think this would be a good move?
How do you think the experience will be with a property management company?  Thank you!