I look to stay there for at least two years and then sell the property as the HOA is really high.

& HOA, excluding any unknown repair costs and depreciation.

My carrying costs for the month would be like $250 max for insurance and HOA fee.

VARIFY THE HOA!!

There needs to a HOA and CC&R.

Looking into it there's a large development of condo's to be ready for 2023 - with the transport hub to the GTA, upcoming Hurontario LRT, lots of Mississauga growth as well as seeing average SFHs selling for $1m+ - could be potentially a decent return.Condo's, especially new builds, haven't really entered my mind due to the lower CoC/higher HOA fees and not seeing any short term ROI as it's a pre-construction, however the potential appreciation is giving me second thoughts and would like to know if anyone is looking to/has invested in this area, or what your opinion is on the potential growth?

My goal was to take my commissions as a real estate agent and to invest in my first fix-n-flip or to buy my first property to reside in (house hacking) but the time has come to develop a new strategy.Although I found a cheaper alternative to purchase in Long Beach, CA (250 sq ft Studio; walking distance to downtown Long Beach; 3 blocks from Pacific Ocean: $150k list price; $80 HOA; Tenant in place renting $1,200 a month), I did not qualify for conventional financing.

Prepaid water/sewerYou might have HOA costs, which are typically 1-3 months of fees and a capital reserve.  

FYI, you're going to run into a lot of HOAs that will not allow you to rent out by the room. 

2 parking garage (about the 2 spot, it's long parking not side by side)Storage (4x3' ) Water heating included in the HOA fees (condo fees)Gym (with decent equipment)Outdoor poolSince it is off the main island, the cost of the taxes and condo fees are cheaper than on the island.