I agree with @Theresa Harris on this.Get preapproved for a mortgage loanSave enough for the down payment ( I personally like 25%)Make sure you have enough reserves to make ready to rent and holding costsGet the place rentedGood luck!

If you really want to dive in the pool, make sure you have at LEAST 4 months of emergency funds to be able to survive while you build your pipeline.3. 

@Theresa Harris from my numbers itll rent for 750 -800 $ a month.

thanks @Theresa Harris. 

@Theresa Harris I think I will do that.

My decision to leave allowed the father-son relationship survive, as if I had stayed any longer, things would have completely blown up. 

Although, the standard of renovation all across the board has improved substantially in the last few years across all surviving turnkey companies I think.

I'm going to be the Yang to @Theresa Harris' Ying.When you make any deal, you should have your exit strategy(ies) sketched out when the offer to purchase is submitted.  

@Richard Oswald Rent rolls, leases, and all other material agreements/documents that will survive closing such as maintenance contracts or property management agreements.

If you want to leverage the condo you're probably better off looking at a HELOC as @Theresa Harris suggested.