$120k condo > 1600 rent > $350 HOA > +/-35% Cash on Cash ROI...

[Benedict Feole]

Hello, 

Crushing on a property in Georgia, a one-bedroom condo in an attractive community. RE broker says no red flags...the ROI seems too good to be true.
I heard on a BPRE podcast that the hosts walk away from any deal where the HOA fees are over ~$75/month, but maybe they weren't referring to condos, but homes.

The HOAs include a dock, a gym, a clubhouse, trash, pest control, grilling area, a pool, and more. 

Selling for $120k. Zillow estimates rent income around $1600. And BallparkDeal gives me a 35% COC ROI.

Any thoughts/feedback on making a one-bedroom condo my first RE purchase? I live and work in NY. 

Thanks and excited to be here! 🎉