2% of purchase- will it cash flow?

[Charlie F.]

Hey Guys- I'm looking to invest in my first property, a multifamily in the NYC area. I spoke with a seasoned investor who told me that for a property to cash flow I need rent at about 6% of purchase price. I've also heard that 2% generally will work. Don't want to start losing money every month on my first deal! How can I ensure that I will see a positive cash flow? Thanks! Charlie