You got to look at the condo fees.

NPR: Tips on Considering a Condo Purchase

Now add in condo association fees, property taxes, and insurance.

FORBES: More Thoughts on Renting Your Fun

If you rent a home out for more than two weeks a year, it becomes a rental for tax purposes, and you can deduct costs for upkeep, such as repairs, utilities and condo maintenance fees.

FORBES: Homing In On Taxes

She says she knows her local market well, her first condo rented right away, and the return has been about 8% a year after management fees.

WSJ: IRAs Get Sexier