How strict are your property requirements?

[Sage Jankowitz]

The 50% and 2% are good rules of thumb, but what are your specific criteria in your area(s)? How stringent are your requirements and how often do you reevaluate them?

I'm trying to figure out how specific most investors get. Do some of you decide, I want only 2 bed, 2 bath, with amenities x, y, z, in good condition, in one neighborhood? Or do you take the opposite approach and say, throw me everything and I'll sort out this mess after the fact.