What would you do with this?

[Scott Schuetz]

Townhouse listed for $129k, I think they will come down to about $115-120k. I just viewed it, it's move in ready. Rent will be $1100, HOA $250, taxes $1200. The retail value is $145k or more, but... The legal description is a condo and there are only 4 units. None of the units are owner occupied so there is no bank financing available.

The numbers almost seem good for a buy and hold but it would deplete all my cash. Thoughts??