Buy for Cash flow only ?!?!?

[Jonathan Klemm]

I have what I think is a pretty decent opportunity for a rental property, but I need some advice!  

Using the 50% rule it will cash flow about $400/month.......HOWEVER, the purchase price is ~$260k and the ARV at best is $310k (I will have to put about $60k in for repairs, holding costs, etc.). The yearly Cash on Cash return is about 8% (slightly low due to 25% down payment).

All that said do I buy for the solid cash flow???  Or keep looking for a better deal.  Also good to note it is in a decent rental market and all my numbers are on the conservative side.