Good deal in a bad area....what to do??

[Raffie Mardickian]

Hey guys, I'm a new investor and have been looking for my 1st rental property for about a month now, I'm targeting an area of town that I'm familiar with, good schools, middle income families, lots of jobs, steady appreciation and neighborhoods that rent very fast.  During my search, I've come across several leads of properties in other parts of town that are not as appealing, higher crime rate, lower income families, not much appreciation.  But when I crunch the numbers, they cash flow 10% cash on cash annually.  I'm torn on what to do, I really like my target area, but the deals are hard to come by because everyone wants to be there. Do I pull the trigger on one of these properties in a bad area, or should I hold out and wait for something in my target area?  I'd hate to put my money in a property that will be hard to lease, and maybe even hard to sell in the future, along with the tenant problems I might come across because of the area of town its in.  Any kind of help/advice would be appreciated, like I said, I'm looking for my first rental.

Thanks