Vegas SFR primary - Ever acceptable to Lose?

[Kyle Reynolds]

Hello BP, 

There is a 3/2 SFR in Las Vegas with a wonderful location to parks, schools, shopping, etc and I'm considering purchasing for my primary residence. The home is $10k undervalued for the area. It is a small fixer upper and I see great potential for future equity growth. It is also in a Class B neighborhood and can be easily rented at going rate of $1,350.00.

My question is this - if with 3.5% down, the mortgage note would be about $1,500.00; soon as I move out in 1 year it appears the property would be Negative cash flowing and not paying for itself. It will gain in equity/value though, in theory. 

Is it sometimes worth it to Lose? Thanks for your feedback.