Does this Condo make sense (second purchase)?
Just startng out and trying to Brrrrr my next property. I’m looking at a condo in VA. Asking price is $57k but I think I can get down to low $50s. Value in good shape is about $70K. Needs about $2-3k in rehab but nothing major. I don’t know yet about the water heater or heat pump . Association is in good shape (no debt, special assessment ending next year). Dues are $197. Taxes are $60. Maintenance I factor to be $70 / month. Rents in the area are $1000-1100. It is almost making the 2% rule and I feel it will cash flow. Does this make sense?