$550 / mo rent on $10k condo???

[Petit Morne]

Is $550 per month rent good for a $10,000 condo with $150 / month HOA?

Taxes are $350 per year or $30 per month.

Liability insurance should run $40 per month.

Property is good quality but in war zone.

I would live in it (fit+finish wise) if it weren't in war zone.

[Michael Herr]

I sold several properties this year with about those numbers.

When you get prices that low, the traditional numbers methods go out the window.

Are you the kind of person that can deal with the type of tenants that will be there?

I made a bunch of money in war zones. I had my tenant's paydays written on my calendar. Text thier "Obama phone" and show up on payday and they have money for you. Show up a day or two late and they are broke.

Once I got too busy to manage my tenants constantly, my vacancy went way up and started loosing money.

So ask yourself if you can deal with high maintenance deadbeats. If yes the ROI can be near infinity in a war zone. If not, it will be negative or worse.

In my area a 10k rent ready war zone property that rents at 550/month isn't rare, but a person that wants to buy it is.

Figure in an asset worth almost nothing into your exit strategy.