New member from south new jersey

[Kyle Debiase]

hey guys just getting into learning about real estate..I'm interested in the buy and hold side of the buissness.

I have a property I'm looking at now it's a condo in a B neighnor hood.2 story  3 bedroom 2 bath. The asking price is 40 000 may e needs another 10k in cosmetics. Taxes are 1500 per year and hoa fees are 150 a month. Was thinking about buying this property cash. Any advantages to that or disadvantages? Also similar units in that neighbor hood are renting from anywhere from 1150 to 1400 a month..I'd really like some incite from some of you guys if you think this is a good investment or not. Tha ks guys