2nd home under 150k - rental property ideas

[Drew Slew]

Would need any advice on my next real estate purchase / ideas after seeing this general scenario:

- make around 80-100k, live in NYC, put 3k saving/month away

- live in NJ, union city area so mainly looking at Newark, Jersey City, Union City for RENTAL investment property under 150k

- own a home in Union city, tenant mainly pays it off - 25% equity in it 

- have 30k student loan debt $500/m pay, 25k cash savings, 8-9k 0% credit card debt for 8 more months

- Looking for something below 150k so i can put 20-30k down quick, rent it for 1500/m+ $200-300/m minimum hard cash profit

This would be 2nd home, 1st investment property. 

Main idea is NYC area always desirable and can charge very high rent easy. Other markets (no experience though) Miami, Florida areas, maybe Arizon/Nevada etc.

This should be a general scenario that many people have, any ideas/advice appreciated!

[Mehdi Khachani]

Drew, it may be hard to cash flow $200-300 per month for a $150K property in Miami.