Is this a good deal? (wholesale in cleveland)

[Gabrielle Martin]

I live in Los Angeles and have an opportunity to buy a 4bd/1ba home in Cleveland for $13,000.  The section-8 tenant brings in $700/month (direct deposit from gov't).  The house is in solid condition due to the annual Section-8 inspections.

However, its a bad neighborhood .. alot of boarded up houses on the block (East Cleveland, OH 44112)... with no signs of appreciating. 

The selling point to me was that its already cash flowing, no rehab costs, and its pretty cheap.

The concerns: Wholesale via Quit Claim deed, Bad neighborhood.

Would you take this deal? 

Also, are there other factors I should consider? This is my first out of state opportunity.. I found a PM that would be $70/month minimum.

[John Thedford]

Ask James Wise.