Investing in SFH turnkey in Tampa

[Brian Fang]

Hello!

My apologies if this is in the wrong forum.

I turned 30 not long ago and decided to invest in my first rental property as a birthday gift (turnkey). I am from New York. 

I casually chose the Tampa area as a starting point. I have looked through about 20 properties now in Lutz, Land O Lakes and Wesley Chapel and it is nearly impossible to get close to 1% price-to-rent if I do not do any renovations. The CoC ROI is negative.

One of my hard requirements is slightly cash flow positive or at the minimum cash flow neutral. So, I am somewhat confused.

Is Tampa the right market? When do you know you should give up and switch to another city?

Thanks!

Brian