So excite! I think this might be a decent deal for first rental

[Chad C.]

Condo in a good area, surrounded by nice homes.

55k house, ( buy at 50k, finance 40k) $191 PI, $46 Taxes. Insurance paid by HOA.

135 hoa, 68 management.68 vacancies, 68 for repairs. 680 rent,

191

46

135

68

68

68

-------

576

-680

104 cash flow

3540 per year cash flow if I pay cash. 7% ROI

If mortgage- 40k @4%, with a down payment of 10k

ROR on 10k in the form of principal for first year is 6.4% increasing about a percent each year for the duration of the 30 year loan. adding a 1% for the $100 cash flow.

would this be ok to get my feet wet?

Thank you!