New to real estate investing 20k to invest Chicago market

[Thomas McNicholas]

Hey Guys!! New to the site! 

I'm from Chicago looking to dive into the real estate market... I currently own and live in a foreclosed condo that I got for dirt cheap... I currently pay $380 per month for my mortgage but could easily rent this out for $900-1100 for my area. 

I was thinking about trying to do the same thing with other foreclosed condos in my area... is this is a smart idea or could 20k be spent better else where?

Thanks!

Tom

[Brie Schmidt]

@Thomas McNicholas - What are your HOA fees?

Because of high HOA fees here and rules and regulations on renting condos I personally avoid them like the plague.