Your cash flow is negative so yeah likely a bad deal
I agree with @Caleb Heimsoth . With a negative cashflow you're losing money each month. I mean what are you going to do if you need a new water heater or roof? Now you're out a lot more than 178.14 per month. Change the area where you want to invest or hunt harder for deals. Deals can be found in every market.
Anything that is negative cashflow is a bad deal in my opinion.
Even in a tough market, negative cash flow should be avoided. If you have a decent W-2 to cover the loses, you may choose to bet on appreciation, but this is speculating and can bite you in the behind. Early in my career, I have bet on appreciation and over the last 8 years it's paid off nicely. But I think it was more luck from the 2008 FMC recovery than anything else. Now that I'm a bit wiser, I like stronger positions. At the end of the day, it's all about your personal goals. Best of luck to you!