condo rental in Central Texas

[Tress Pearce]

Hey y'all! I am very new to the site and looking to buy a duplex or some type of rental property here in Central Texas. I am slowly educating myself, but thought I would ask the question. There are two condos available, near a university. They are currently rented until July 2016. They rent for $775 per unit. They are $79,000 each. The HOA is $155 per unit and covers water, trash and landscaping. Does this sound like a good idea to purchase one or both? What would be the appropriate down payment, 10% or 20%? I am looking to create good monthly cash flow. Just don't know the formulas yet to know if this is a good idea. Thanks, in advance, for the advice.