Essentially, you will need to get a decent deal on a place in order to cover your costs. It's a good time to buy right now, as there are a lot of listings (7000+) so getting a good price on a home shouldn't be too much of a problem.
Once you settle on a place do the math....figure out what your mortgage cost + taxes + insurance is, and then look at the rental comparables in that area to see if you can cover everything...or in other words can you charge enough rent to cover your expenses. I didn't relly factor in other expenses (power, water, etc) as those are generally paid by your renter.
Renters don't pay your condo fees directly...they would be paying you rent per month, and its up to you to charge enough rent to cover those fees.
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