Analyze my first deal
Looking for some advice with my first deal! Thanks in advance!
2 bedroom condo that has been completely remodeled (granite, stainless steal, new carpet, new paint, base boards etc). Purchase price is 38K, would be paying cash. Average rent is $700 for the area but my realtor believes we could obtain a contract at $725 because of the remodel. HOA is $140, includes water, sewer, trash. Annual taxes are $202. I understand this doesn't fit the 1% rule.