@Duarte Marques you haven't shared how much money you have access to for a purchase?

But if I sell it and put that money in the stock market and earn let’s say 8% I would make $40,000 on the same money.  

So I get 4-6X rent for not much more money.

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.   

It would be a tight budget but I do have money set aside for repairs.

Was that purchase money, rate and term refi, or cash out refi?

Many other investors have asked themselves (and others this question) but what I believe it ultimately comes down to is what are your goals (how much money you'd like to make), are you physically able to manage it yourself and do you have the right organization and systems in place to do it on your own. 

If she's been living there during the foreclosure and not paying rent, then she what did she do with the money she would have used to pay rent? 

one thing is your lending your money way under what private money should charge. unless your just doing your friends a favor..

It's not about the money.