First Investment in Oakley,CA

[Akshay Jay]

Hey folks, this is my first rental investment. Here is a property that I am considering.
Single Family, Price $650000, Lot Size~ 7000 Sq. Ft. Year Built1991. Planning to keep the property for at least 10 years. For starters, my cash flow will likely be slightly negative, I am ok with that. I am mostly into this for Equity upside after 10 years. Need group's feedback on three things 

1. 1) Do people have general feedback/thoughts on Oakley from an Opportunity perspective? 
2. 2) What other areas close to SF Bay Area makes sense from investment in $700k Budget Range; This would be for equity upside play 
3. 3) As a newbie investor, what are the things that I should keep in my mind, for eg. what is the right Insurance to buy, etc.

Appreciate your feedback in advance