San Diego Multi Family - Investing in neg cashflow property?!

[Schuyler G.]

For those who have invested in a market where home values exceed your rental income at the typical 20-35% down.. 

How do you analyze it? Whats your rationale?

I'm looking at a duplex where I would live in one unit and rent out the other. My monthly payment would be cheaper then anything I would rent in the area but it is still a negative cashflow property if I rented out both units. This will be a long term hold for me and eventually rents will catch up to my payment and turn positive. I also think there is opportunity to raise the rents if I put a bit of money into it. 

Are you staying away from any/all properties with neg cashflow? Or are you still buying and why?