Thanks for the comments. It doesnt seem like you are factoring in appreciation. Keep in mind I understand we have not bottomed out yet. I came up with $300k because that is what I want to pay for condos that now sell for $400 – $450 and it seems you can rent these out for around $2k a month. It seems like if I can break even and have the tax benefit by renting it out for 9-10 months out of the year that would make sense. Am I confused?