Should I buy this unit?

[Jairo Zapata]

Ho all, 

A friend wants to sell me a 1/1 condo for $105k -sale by owner. HOA is $351 monthly and includes 2 parkings, Gas, heat, a/c and free laundry in the basement. Tax is $3098, and $25 monthly insurance. Potential tenant will only pay electricity. It could rent for $1200 - $1250. I am asking if he could install a W/D in the kitchen and try to get that for free. Still, I calculated monthly expenses at $1142 assuming an interest rate of 6% on a 30 yrs loan. Even if I rented it for $1250, it would only be 6% ROI. Pretty low right?

Thanks for sharing. 

[Travis Timmons]

No.

My two cents - only by a condo if it is a slam dunk/no brainer or if it has a unique benefit - i.e. location, beach condo for personal use in addition to rental income, etc.