Condo with high c/c fee

[Vannak Kann]

Hi All,

I see a HUD home that i plan to buy and rent a room, the condo is foreclosure for $55000 however the c/c fee is around $540 per month, since i'm currently renting, i'm planning to offer cash for the property then live there. Then rent the other room to other people.Assuming if i later move out, i can still rent them.

Can someone tell me if there is any flaw to this logic?..also since i cash this property, i'm planning to offer $50000, anyone tell me what's i should do to make sure i pay the right offer?....there is a similiar condo in the building 2 bed and 1bath sell for $75000.

thanks all.