There are also DSCR loans where your income/employment/DTI is not factored in, but you’re instead qualified based on the property’s income, your FICO and reserves.

You’ve got $10-15k and need a MINIMUM of 5-10k for reserves. 

But if that tenant leaves next month, you'll want to have reserves for six or more months in case of long vacancy.  

I highly recommend you check the Reserve studies from the HOA and make sure there are no looming big projects - i.e. roof repair, elevator upgrades, amenities (pool, gym, laundry) to be maintained - again dependent on what the condo building is offering.

Why don't you find an equity partner and come up with all the cash up front so that you have ample reserves to ensure that if you hit a snag that you are able to keep the project going?

My advice is start slow and have reserves.

The property taxes, insurance, reserves look way low to me, but as I said, we don't invest locally and I don't even know how old or what condition the property is in.

I've got $2 million in an IRA (invested in mutual funds), $300K in investable cash, and $200K in reserves.

That decision was the best I've ever made, and the duplex has performed incredibly and allowed me to build wealth and reserves for my next property.

Note, this lender doesn't require much background check, ie reserve funds, credit check, etc.