Yes! We have a tenant for the Florida condo. He's signing a 12-month lease and will be paying $925/month.
So, let's just work this through before we get too excited:
Yearly income: $925 x 12 = $11,100
Minus
Yearly expenses:
HOA Fees - $3684
Property Management Fees - $1110
Incidental maintenance - $500
Insurance - $300
Tax - $200
Banking fees - $360
Tax filing - $375
2 months' vacancy - $1850
Nett profit - $2721/year
Well, at least we're still in front, even if it's not by a lot :) Here's hoping that 5 years from now, we'll be seeing a beautiful, big capital gain!
That's the plan :P
