Vic, There has never been a more opportune time to buy. At 1100.00 a month it would be a good choice. Below find a rent vs. own calculator for your use. Also feel free to search homes at mikebowler.com
If you want additional information, I would be happy to provide it at no obligatiion. Thanks, Mike

Vic, There are too many variables in your question and the paths you want to take to give advice.

Here are a few suggestions. Verify you can actually purchase a condo. This would include getting pre-approved http://www.mi-living.com/index.cfm?contentpage=approval.cfm

See what the actual property taxes and homeowners insurance would be. Generally, insurance companies give a discount if you insure your home and cars through them, so that may save some money. Does this amount plust utilities still add up to 1,100 per month?

What would your liabilities and responsibilites be as a landlord?

Every real estate transaction requires thinking ahead for the future. I'm glad to see you are taking the first step.

Vic,
I assume that you will be going to Michigan State. Does the 1.1K need to include all utilities, insurance, etc. of is the 1.1K for a "mortgage or rental" payment. If you can afford 1.1k for mortgage, I would recommend that you purchase. You will always be able to rent in that area. We'd love to help you make the best selection.
The Schaffer Realty Group
terry@marianschaffer.com http://www.marianschafferrealty.com
877-886-8388