That would be a nice monthly payment.I'd bet you can get the taxes down from $2200 to $1500-$1700.

I understand that the cash flow is not spectacular, but after looking for 4+ months, this doesn't look so bad for Metro San Diego area (I also have limited cash reserves, so I can't put down a 50%+ down payment to make some of the better properties cash flow).My main question is whether it's worth buying a really nice property in a bad neighborhood as a long-term investment.

I am planning on buying my first investment property later this year, it will likely be a rental property unless the unlikely event of finding some outrageous deal that I can flip and make a nice amount of cash occurs.My goal is to create a nice passive income or so while also building my overall net worth.

Hi Nicole - nice to meet you!

Nice work.

It sounds like a good deal with a nice spread!

This is also nice to let prospective tenants know that I will be at the property monthly; which makes them think twice if they want to do anything against the rules.

Also, the escrowed amount for repairs is nice, but on a cash deal, that goes away, so remember to negotiate a lower offer in a cash deal when repair escrows are offered.Even then, when your bid is accepted in an O/O deal, you (the buyer, more specifically) is responsible for all costs to dewinterize/rewinterize, and turn on utilities for inspections.

It's nice to know as an investor that your numbers are correct carried out to 8 places, for those doing mortgages, it's a matter of law and regulations.Whatever you find, I suggest you check your figures to a calculator that is known to be compliant, many are not. 

Nice area.Welcome to BP, hang around and you will learn a lot!