<prompt> Human: Hello everyone. Cross post from rRealEstate.Some context: We wife and I live in the SE Florida market and weve been looking to buy a SFH since the beginning of the year. Put in a couple offers but nothing has been accepted so were still on the search.Weve been renting month to month at our apartment since June and our owners recently informed us of their desire to sell they purchased the condo in 2015 for 103k. They are offering it to us for 125k which is about right according to the CMAs our own realtor got us without putting it on the market. They live out in California and wanted a few properties closer to where they live.While we are eventually interested in getting a few rental properties, we wanted to buy our SFH first and then work on some rental properties after that.If we were to buy the condo, my plan would be to live in the current condo for another year while we save the difference in the down payment for the condo to restore our current down payment amount for a SFH. After purchasing a SFH, I would rent out the condo and hold for about 10 years or whatever time frame according to the circumstances.I got their current payments for fees and have detailed it below. Assume a 30-year mortgage at 4.5 interest and a 10 vacancy rate. Assume that most of the appliances and other cosmetic changes within the apartment do not need to be replaced for 5 years.Income 1,500month: Current Rent: 1500month - 18,000 annualMortgage, Taxes, and Insurance 732month: Mortgage PI: 507month - 6,084 annual Insurance: 50month - 600 annual Taxes: 175month - 2,100 annualOperating Expenses 805month: HOA Fee: 570month - 6,840 annual Vacancy Rate: 150month - 1,800 annual Maintenance: 65month - 780 annual Other Expenses: 20month - 240 annualOn first glance, Im either slightly negative in cash flow or about break even for the first couple of years until I can raise rent. The condo is one of about 500 units. Its one of a few 22s and the owners of similar units rarely go more than month or two when they need new renters.The wife and I are fine living in it for a year until we get enough of our down payment back for a SFH, but my instinct is that the price for the condo isnt the best. On the other hand, Ive lived here for 2 years so I know that the area is nice, well kept, and the neighbors are generally quiet. Im still waiting on some of the financial statements from the HOA, but the area is pretty well taken care of for the most part.Wondering if I could get some feedback or other thoughts on my plan above.  <response>: That looks like a miserable rental. You have 1300month going out the door before any consideration for maintenance, management, or vacancies. The HOA fees are ginormous and will only increase over time.Run away! 