Barely breaking even on rental property

[Account Closed]

Im running into a problem of seeing how I could possibly make any profit margin on this property. I’m looking at a rental property to invest in, very good location, but how would I have any room to make money?

Condo: 2/2

Price: $150k

Potential rent (1% of property): $1,500

HOA fees: $360

Mortgage: $642

Property tax (in FL, pretty high): $253

Homeowners insurance: $240

Total costs: $1,495

Total Profit Margin: $5

Am I missing something? If there’s even one month vacancy, I’d be underwater... love to hear any ideas or if it’s just not an opportunity

[Luke Ski]

You will run into a real big problem if you actually buy this or any other investment property within next few months. I guarantee you, this condo in a few short months will be worth a half of what you are planning to pay for it now. Do not buy anything right now, and especially do not buy some weak ,break even-condos during greatest financial crisis in last 100 years. You will thank me later....and by the way, those numbers suck, big time! You either get $500 profit per door or you never buy it.