Buying investment property at retail?

[Neil J.]

Hello Bigger Pockets,

I know the overall goal in real estate investing is to purchase below market value. But I came across an interesting situation where I can purchase a 3 family cashflow property with 100% financing. There is two catches, one is that I would have to purchase at market value, and two is that its not located in the nicest area. I ran the numbers and it seems that the property will cashflow at about 12k a year, Bad idea? 

Any input would be GREATLY appreciated!