<prompt> Human: I would be looking at a place somewhere in the range of 280k to 320k for a 2 bedroom which would rent for about 2200 to 2600 a month. I would be putting 20 down and get the mortgage as close to 200k as possible. I am very fortunate to be renting a small 1 bedroom for a discounted price and would like to keep it for the next several years. I realize youll want to see my budget but Im curious if this is a bad idea to begin with. Assume 400 for HOA and 4k property taxes. So a 1000 mortgage payment becomes closer to 1800 plus any repairs etc. Plus any percentage towards a property management company. What are your thoughts?  <response>: Its funny my current tenant is in literally this exact same situation. He rented out his condo to move in with me when I bought a place.Anyway, you should definitely post this in rRealEstate instead of here.That being said, I have to agree with umb3581. The margins here are just too slim. Very generally speaking condos arent good money makers and condo fees are a big part of that. 