Advice on potential investment needed

[Aleksandra U.]

Hello,

Looking to purchase a condo for investment. My last offer was $62500 and I'm paying closing costs (seller didn't not agree to cover any of it). Seller wants $65000. I still consider it a good deal even with purchase price of $65000. My realtor thinks it's not worth that much. I don't know what to do. Any advice?

I'm putting 20%. Closing costs around 4K. Tax on it $853. Insurance $300. HOA $300/monthly. I will have to take ARM 7/1 with 4.25% rate.

Charged Rent would be either $1000 or $1100/month. 

All utilites except electric are included in HOA fee. As well as general property maintenance.

Thank you for your thoughts.

al.