So I cannot confirm if a 500k home will satisfy the criteria you put forward because it will depend on your downpayment but lets assume that the 500k is an accurate number. As you know from PQ there have been some REO props of the 4/2.5 variety that have popped up but the ones that have been priced aggressively have been more or less pounced on immediately. You will definitely find more inventory in Poway that will fit the bill but it will be farther to the east. Consequently it will also be older stock. The variability of Poway neighborhoods also increases as you get further to the east. Agreed with Manmom about Sabre Springs. Like much of PQ the bulk of the 4/2.5 stuff is still floating about 5-10% out of reach of the numbers you are hoping to hit, and the 15 year mortgage makes it a bit tougher to measure up to the market rental rates especially after you throw in property taxes. If you can sit tight for another year you will find a better selection. Given 2 years, you “should” find alot of stuff that will fit the bill. In the immediate future though it will be challenging, maybe in the late summer you will see some REO’s come up that get close to what you want.
