Temecualguy…I think you have some very good points about Temecula and I will have to take a look up there. But can you really land a $135k 4/2 1,364sf nice house up there right now? My guess that is the “bait” price and it gets bid up more towards $200k. That’s a big difference between $80k for the same house in Vegas or Phoenix that rents for $1,100. Also, does that Temecula house have Mello Roos? That would be a cash flow killer.
On the areas another poster mentioned, unless you have a gigantic down payment, no way can you make the numbers even close to work on a SFR in Clairemont Mesa, Kearny Mesa, Mira Mesa or La Mesa. Maybe at the very bottom of the La Mesa market where it gets sketch near hwy 94…but even then it’s tough.
It seems to me for SFR rentals in SD County you have to go into the low end of Nat City, Spring Valley, Paradise Hills, Encanto, Lemon Grove, Old Chula, Escondido, maybe parts of Oceanside/Vista… to have a chance. If you’re more brave, City Hieghts and Logan Heights. And even then you get absolute bottom of the barrel junk for $175k.
