First investment Palm Bay

[Veronica Osorio]

Hi, I am planning to make my first investment in a single-family home. The location is Palm Bay, Florida, and the cost of the property is $340K.brand new construction, Some of the properties don't have an HOA, while those with an HOA are around $600 per year. My concern is that I've noticed rental properties in this area aren't very steady, and homes tend to stay on the market for a long time. This also doesn't seem to align with the 1% rule. The property I'm considering rents for about $2K per month.

I'd like to know what you think about these properties. Do you have any suggestions regarding HOA? Is it worth it, or not? Also, what do you think about the area?, im from NYC.

best regards

Veronica O.