Would You Bother Investing in a 40k Condo?

[Dan Brindley]

http://www.realtor.com/realestateandhomes-Detail/7935-Preserve-Cir-Apt-415_Naples_FL_34119_M64835-85423?source=hp

It's in Naples, FL. I'm sure it would rent out for at least $800 satisfying the 2% guideline. This seems like a decent deal, no? I would rent it out.

I dont have any comps or many details. I'm not even considering this deal since I'm not ready to buy anything yet; I'm just practicing some mock deals.
I'm just wondering if you guys would be likely to inquire more about this TYPE of investment, or just dismiss it right away ignoring what the comps and other details may be.

[Jeff N.]

Hello Dan,

I have also been researching some condos in Florida. I have been researching on the gulf side, but my concerns are the HOA's and insurance. An insolvent condo association can kill your cashflow.

I did some research on the community you mentioned and I found a few condos listing the condo fees at $300/month, which isn't too bad considering all the amenities they seem to have. But I couldn't find any association minutes or balance sheets for public view.

There are a few Florida investors on here that may be able to give you some insight on this area.