Buying a home in the Bronx

[Andy Perez]

Hello guys, I have been looking at a couple of 3 family homes for sale in my area (Bronx NY). I have based my search primarily on the price, but a list of most important to least important is really want I feel Is needed to simplify my search. I have the following list that needs sorting...

1. 1%-2% rule for rental income to cash flow. 

2. Location, primarily if close to subways 

3. Renovations, amount of work/money to make it rentable. 

Hey guys if there is a difference approch then please feel free to share it with me. I really want a property to cash flow which is why I want the rent role to be as close to 1.5% of the total investment as its a rule used by many investors which should ensure cash flow. Sometimes I even see myself forgetting everything else and only using the 1.5% as the rule for selecting the right property. Thank you guys in advance for your feedback.