If you were to pay cash for a 300k Condo to rent then consider that you could make $15k a year just taking that money and putting it in CD’s.
If $15k is risk free then lets say $30k is min you should make.
Take the $30k and add property taxes, say $4k per year, upkeep, say $2k per year. That means you would have to get $36k per year in rental income. Consider that you will only have it rented for 9 months per year on average then you will need to rent it for $36k/9 or $4k per month. No way you can rent it for that much. For a condo to pay off then you should only pay about $150k for it.
I didn’t include deperication because that has to be recaptured when you sell it so its just a timing issue. Not a real benefit.
When Real Estate returns to what it was in 2000 then I will get interested.
