I have a great tool for you...And I have a great investment property for you to purchase. Some of the Bank Owned homes that are listed as active are actually under contract but because escrows are taking longer they are actually not "active", they stay active until escrow is opened and "formal loan approval", is completed. Now, about my tool. Go to http://www.rentometer.com and play with this great tool. The area I have in mind for you has a zip code of 92563, the taxes are only 1.3% and guess what the homes are newer built in 2003-2005 and need very little work!!!
Positive Cash flow with 20% down is absolute. Your payment with Principal, Interest, Taxes and Insurance would only be about $1000.00 for a $200,000.00 home. Call me I have a house that I need a new buyer for because the buyer found another home because this short sale was taking too long and now is ready!