You want to pay all cash on a $200,000 property? What I recommend is to look at location as your number one factor. What will $200,000 buy you in the better location.
The reason is you get higher rent, better tenants, and a greater appreciation on location. Are you open to exploring areas outside of Santa Clara County? In Santa Clara County $200,000 is going to limited you to condos. You will want to review the monthly HOA fees which affect your ROI. Also, more and more condo communities are restricting renting the condo's out. So reviewing the HOA documents, minutes and newsletters are very important.
Rental are in high demand so your thinking of purchasing for a rental is a good one. There are so many questions I would be asking my investor before going forward and hopefully the Broker/Agent your select will ask you those questions so that you can make an informed decision.
Have an amazing day!