1st Investment rental property

[Zane Hellenga]

Hello I live in Miami and I just purchased my first home 2 years ago in cutler bay. I'm looking forward to getting a investment property in south miami area. I'm starting the search relatively soon in the meantime I'm doing my homework. My budget can possibly go as high as 170k with 25% down the real goal is to creat some cash flow. What would be some numbers that could put me in a good position? I'm assuming 300.00 HOA average with rentals ranging from 1000.00 to 1450.00. I want to have atleast a 2 bedroom or possible townhouse. With these numbers does it look like its possible to creat positive cash flow in south Miami? Pinecrest, palmetto bay, Cutler bay area?