condo investment

[Account Closed]

I am thinking of buying a condo in Maui, Hawaii. I have an offer in for $42,000 2/1.5 mountain/ocean view. It has tenants in place paying $950/mo. The HOA fees are $668/ month, this includes elecricity. the bank is counter offering at $45,000. This is fee simple property in Kahului. This is definatley a buy and hold. These proerties were close to $200,000 in 2004. They were $160,000 about 3 years ago. Is this worth investing? I am partners in one unit already with a positive cash flow of about $150/ month including all the expenses.