50% Rule on a Condo. Would you do this deal?

[Bryce Till]

Here are the deal details 1 bed 1 bath condo. 800 sq feet. The unit doesn't need any updating. Best part of the condo is location. Great location, I've lived in the area for 7 years. Pretty confident in the $ rent amount and limited vacancy. Price 80k Closing costs 2k 20% down Cash out of pocket $20k Mortgage 62k Taxes $1200 HOA $170 Rent $900 50% rule - $450 HOA $170 Taxes $100 Mortgage $350 Profit (loss) ($170) Considering this is my first deal I like the fact that the purchase price is relatively low, the maintenance should be manageable with it being a condo, and the property is within minutes of my primary residence. So, with the above numbers this deal leaves me with $320 a month for expenses. This deal is profitable with 30% going to expenses. Do you do this deal? Thanks you for your opinions!