How to choose investment/rental property. What do you look for?

[Chris L.]

When looking to purchase a residential and/or commercial investment property what type of yearly return on investment do you look for-after expenses? What do you look for , in general, when investing in a  residential and/or commercial investment property?  I have read about the 2% rule but I have not been able to find a property that even comes close to that. Any advice you can give this new investor would be greatly appreciated.