Would you pay full retail for excellent cash flow?

[Mike R.]

@Brandon Turner and others often talk about making sure you have cash flow AND equity going into every buy-and-hold deal. But are there any circumstances where you'd pay full retail if the cash flow is good enough?

There's a triplex in my area listed at $85,000. Rents are $2,390. 

Using the 50 percent rule to ballpark expenses, and a P&I payment of $315 ($68K loan, 30-year mortgage, 3.75 percent interest), that's $880 per month cash flow, or $292 per door. 

This triplex is listed at full retail; it's an area where houses do not appreciate; and there is probably some deferred maintenance. So that's three strikes against it. 

But, still ... does the cash flow make this house warrant a closer look?

Thanks,

Mike