Starter Property in Florida

[David H.]

Hello,

I am just beginning to look at this as a viable option for retirement, or better yet, to have as a business. There's a property in Florida that is a 1 bed / 1 bath, estimated rents 900, estimated tax 900 yr, HOA 320

what else do I need to figure? I am sure there will be some repairs. I ran it through the calculator and the estimated ROI is around 5%. What benchmark do people use for returns?

Also I am in San Diego, so it is across the country. I in 34 years old and dont own any properties. So I am in the begining stages. As much as I would love to own in San Diego, it's a bit of a challenge to do so.