Can anyone give me advice on how to go about it if it's worth it?

If you are going to have this asset for a long time it'll be worth the peace of mind knowing its updated. 

I made a few deals in North Dallas.Special assessments and HOA fees are a risk and renting out a condo most likely won't generate much of a cash flow.At $300k with you credit and saving you can still qualified for a loan for sure we have to find the program that works for you.On that budget you could find a nice place no that far from work so you don't have to move far to the suburbs. 

You will get way better loan terms than you would on a Cash out Refi as a partnership entity with no RE experience.This is all very theoretical, can you share the actual numbers so we can help you more?

Cash invested: $60,000 656 sq foot, 1 BR Condo What made you interested in investing in this type of deal?

Some markets are better for cash flow.

You have to buy more with your 1031 than your portion is worth.

These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

My first goal is to hit 5k per month in pure cash flow and second goal is to hit 10k per month in pure cash flow.

Are you starting with some available capital or other investments that you can turn into cash to buy a deal?