LTR Search Criteria - Advice please

[Lance Mundo]

Good morning everyone,

I'm developing my local LTR search criteria, and would appreciate any input. Please be frank, and let me know what you think.
Lance

Criteria:

My ask: I'm looking for a SFH opportunity within the greater Atlanta metro area that will cash flow at least $200 per month and provides a value-add opportunity either by raising rents or rehabilitation. I'm looking to put about 30K in renovation at max. My criteria are listed below.

Property Type: LTR opportunity (SFH, Small multi-family (4 units or less), condominium)

Location: Atlanta macro market, micro markets of: within a one hour drive of 30265 zip code

Condition: Light/moderate rehab to turnkey

Price range: $250,000 - $450,000

Profitability: Cap rate: 6%, Cash flow: $200, CoC: 10%

Goal: Value add, buy, and hold rental property

Criteria: no abatements, no foundation issues

Additional: Class D property in a Class C/B neighborhood

Financing: Focusing on subject to, and seller financing for now. As my available capital increases, I can pursue possible traditional avenues. I could also entertain partnerships for traditional or cash offers.