You might be lucky to break even after all expenses unless you're only looking for an appreciation play.

The reason I am having trouble with this is because when comparing condos, chances are they will have the same Cap Ex and Vacancy numbers even if one is more expensive than the other.

@Dakoda SpencerZillow shows tax information but you will also want to verify it on the town website because there may also be an additional town or school tax.I would probably pay cash for the property if rent is going to be so low because you will need some money to cover ongoing expenses.

Sell the stuff you dont use but like to keep there and eliminate that expense from your monthly nut.

Over the long haul, I like to look at using IRR and time value of money, which includes the whole process of buying, income/expenses and selling the asset.

The most important factors are tenant selection and keeping the good tenants so that you have little turnover (major expense). 

Having an attorney respond right off the bat like that will just force everyone into a "conversation" which is going to be very expensive.

Option 1: real estate is expensive.  

I do have family in the area and it's not to expensive to travel back and forth to check out properties.

They recommended the SmartJack system.My impression is that a full re-pour would be quite expensive - I'd be curious to hear what types of quotes you get for this.