Expect to pay up to 50% of income on expenses (property manager, maintenance, insurance, HOAs, vacancy, lease fee, advertising, some utilities, property tax).
Condo doesn’t need a property manager and if you pick the right one, maintenance is minimal. Insurance is mostly picked up by the HOA fee, landlord’s liability is cheap. What lease fee? What advertising? Craigslist is free, and I’ve never checked a tenant’s credit, just interviewed VERRRRRY carefully, asked for multiple references, checked them out online, and looked if the story made sense.
