Can’t find a property whose calculation works fine in SF Bay area

[Saman Jafari]

I am a first time home buyer with pre-approved 5% down payment, and I am looking for a property in the SF bay area to live in and potentially rent in a couple of years. However, the dilemma that I face each time is when I run the numbers, there is between $1600 and $1900 difference between the mortgage+HOA and expected rent, before tax right off though. Thus, it has made me hopeless in finding a property with even $1000 negative balance. It somehow makes sense since I am borrowing 95% of the value from a bank. So, I am having a hard time to decide whether I should move on with this much of difference for the first deal as I search in hot areas such as Sunnyvale and Santa Clara, Campbell as I wanna live in these areas? I really need an honest response to tell me if I should wait longer to find something about 500,$600 cheaper per month or it is not a realistic goal ..