Does investing at this particular home and price make sense?

[Michael Stowers]

Hey Team,

i'm in escrow on a 3/2 home in South Tampa brand new remodel.  We are in escrow at $390k and we are putting 25% down.  We are only cash flowing about $125-$250 a month.  Our cash on cash return is 2-3%.  Lord willing, this home would be a long term investment and it's a flip so we wouldn't have to rehab just the general maintenance.  We are from San Diego and I still like the Tampa market long term.  Is this still a good investment considering the capital we are putting in to get a little return at first?