Condo mortgage is $2100/month (with insurance, HOA fee) and the rent would probably be $2200/month.

@Kenneth Jenkins you forgot to mention owners that expect a PMC to use contractors off Craigslist that are unlicensed, NOT insured and rarely have acceptable experience/skill - but, they quote the "best" price.These same owners will sue a PMC if using these types of contractors results in a tenant lawsuit.

And there is a constant mention of Guaranteed returns there is no Guarantee unless its the federal govmit on 250k or less FDIC insured .. this was simply investor greed.. investors did not understand what they were investing in what the risks were and were blinded by the returns offered.. no one put a gun to their head.. investor make bad investments all the time..  

@Brett Jurgens,With strong equity and a good tenant, you have a few options:Cash-Out Refinance: Offers lower, fixed rates for stable monthly payments and lets you keep the property while using equity to invest in another rental.HELOC: Provides flexible access to cash, though with typically higher, variable rates that can fluctuate over time.1031 Exchange: If you're open to selling, a 1031 exchange could defer taxes and allow you to trade up to a higher-value property or diversify into a different market.Each option has pros, so it really depends on whether you want to hold onto the current property or leverage its value for something new.

"They are probably in sketch locations"- If by "Sketch" you mean anywhere in the inner city you would be right, however if being in the inner city alone doesn't qualify as sketchy then there are plenty of Section 8 rentals in low crime and very stable neighborhoods. 

You will have to gather more accurate operating costs (vacancy loss, taxes, utilities, insurance, mgmt fees, maintenance, HOA) to best determine potential future performance.

Insurance is expensive, there is a lot of extra maintenance like painting or electric in common areas that don't apply as much with smaller units. 

Private mortgage insurance i believe is not charged on va loans.  

INstead of just saying "no" we asked them to check with their credit card company if they offer travel insurance yada yada.. we got a 5 star review form them without giving a refund.

The bank people are either the least stable or get paid irregular.