Should I consider rentals at 90% ARV if rent is 2% of total cost?

[Paul Smythe]

I understand there are plenty of variables that go into an investment, but I'm wanting to know what initial reactions are to the idea of paying 85-90% ARV (after purchase and rehab) for a property that will satisfy the 2% rule. Would you consider the property or would you move along?

I intend to hold the property I'm looking at as a rental. It is in a nice area with no crime at all.