Buy and Hold rental investment analysis

[James Conaway]

I am new to bigger pockets. I have a Phoenix short sale condo rental I have been in the works to buy since February and would like some feedback on the investment thesis.

I am planning on paying off the condo through additional principal payments to have it as a long term rental property to help support a financial independence plan.

The condo unit is 2br/2ba, 15 years old, and is located in a desirable area with luxury amenities. It has a significant HOA fee, but includes all exterior building maintenance for the property which I really like from a future maintenance time/cost perspective.

I am putting 20-25% down. I am pretty confident on the numbers included in the picture below. The analysis shows a negative cash flow which I am ok with due to the long term nature of the investment. I suspect it may be break even on cash flow because of my repairs and vacancy numbers are conservative.