Wujohn, may I suggest well-located and well-built SFR’s in Chula Vista that you could manage yourself, all near or on one or more bus lines and/or the trolley? Most have at least a one-car garage and laundry hookups. The going rent is $1400-$1800 per mo depending on condition, location and size. No HOA’s and no Mello-Roos but you would probably have to hire a gardener for those on larger lots, unless you can furnish a lawnmower and find a tenant who will do it for a small discount (entirely possible). A little fix up would probably be necessary on most of them before renting out.
Typical downpayment for non-owner occupied would be about 30%. With this scenario, I see a good positive cash flow. There is a captive rental audience in this area and vacant properties not listed on the “for-sale” market do not last long.
