Investment Property in Florida!

[Neil Patrick]

Hi everyone - I have allotted about 40k to invest in an out of state investment property.  A friend told me about Port St. Luicie (she is from there). I see 3/2's going for 110-140. If I put 20k down, it looks like I can have a mortgage around $600 and rent the place for $1000-1100.  If I can cash flow $4-500/month that may be an OK investment.

Has anyone invested in Port St. Lucie? And if so, are my numbers correct?  Thoughts???