In general, expenses related to the purchase or improvement of a rental property can be deductible, but the treatment of these expenses may vary depending on the nature of the expense and applicable tax laws. 

Look at your monthly payment (PITI = Principal,Interest, Taxes, Insurance) + HOA + (other maintenance fees if any) and if this amount is less than what you charge for rent (whether its Long, Mid, or Short Term rentals) and you are happy with the positive cash flow, then yes.Or maybe you're breaking even with the condo but you have  knowledge that the condo will explode in value due to some business/attraction/law/policy that will prop-up the sales price in the near future, then yes.Really, it boils down to what your goals are for this first investment.

It's a good idea to talk to legal and financial experts about taxes, insurance, liability, rental agreements, and managing your finances.

But one undeniable benefit of house-hacking is to ability to reduce w2 taxes for primary residence with interest rate payments.

With the exception of places like South Florida which can be quite saturated, Florida is great for high return potentials because of its consistent population growth, beneficial tax laws, and strong markets.

Additionally, they engage in charity work and support Christian ministries, which may resonate with those sharing similar values.Our financial advisor initially recommended SDIRA Wealth for its tax strategies, and it has proven to be a solid choice.

Specially, as it relates to taxes.  

However, the lodging tax is NOT included in this average daily rate. 

I'm of course bias, but I chose Reno because of it's proximity to CA, no state income tax, stable job growth, population growth, land constraints (constricted supply), proximity to Lake Tahoe, etc. 

The purchase decision only requires online thorough research, then try to buy in a 401k/ira so you don't have to pay taxes on the Dividends which can be large.