An open quantum system, whose time evolution is governed by a master equation, can be driven into a given pure quantum state by an appropriate design of the system-reservoir coupling. This points out a route towards preparing many body states and non-equilibrium quantum phases by quantum reservoir engineering. Here we discuss in detail the example of a driven dissipative Bose Einstein Condensate of bosons and of paired fermions, where atoms in an optical lattice are coupled to a bath of Bogoliubov excitations via the atomic current representing local dissipation. In the absence of interactions the lattice gas is driven into a pure state with long range order. Weak interactions lead to a weakly mixed state, which in 3D can be understood as a depletion of the condensate, and in 1D and 2D exhibits properties reminiscent of a Luttinger liquid or a KosterlitzThouless critical phase at finite temperature, with the role of the "finite temperature" played by the interactions.