Summarizing Kim's monthly expenses: Electricity is $125, water is $20, internet is $115, property manager is $150, housekeeper is $85, condo fees are $718, and insurance is $217, for a total of $1,430 per month -- not including the purchase price of the property (or mortgage, if there is a mortgage).

One alternative is to see what kind of apartment you can rent for $1,430 to $2,000 per month.