You haven't got much good advice yet above, so here is some free good advice.
If you are using this as an income property, you must come up with a capitalization rate that you desire (e.g. 7% to 10% is decent). Then you need to find a property with a price and net operating income that fits that cap rate. When computing net operating income (NOI), make sure to include all expenses and deduct for vacancy allowances. Also account for the time/effort you will put in, allowance for interest rate increases, and lost opportunity cost of your deposit. Get clear documentation from sellers about expenses, and look at the leases he/she has to verify rental rates. These days you are unlikely to get a decent cap rate with any condo, or any single rental unit property. Income properties are poor investments right now because the market is so high (look at prices relative to income). I also wouldn't count on appreciation at all. You may be in for a significant loss in fact.
If you don't know how to do these calculations, or are not willing to do the leg work to learn and acquire the correct information, you should not be a real estate investor. It is that simple.
right now you are better off buying some nice dividend stocks, renting, and enjoying your free time.
