Is this a good deal or not?

[David Carter]

Three condos are being bundled together and sold for 115,000 total. Each one is a little over 1000 sq ft and can rent for 650 each. Using the famous "50% " rule, these still look like a good deal. The only problem is I dont know if that takes into account HOA dues. and these dues are about $200 per unit!!! That could make or break this deal. The HOA dues do cover : ext. maintenance, area lights, water, waste mgmt., fire insurance, pool (un-opened).

I'll let the pros look at this one and tell me what you think. I have yet to visit the property. I will look at it this Saturday. This would be my first deal if I bought it so I wanna make it a good one. I and my partner have good credit and good jobs so we should get a good mortgage.