Decent Cash Flow and Cash on Cash but negative 50% rule?

[Ryan Rogers]

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Hello BP,

I am going to put a offer on this property after Thanks Giving weekend. 

Details: Foreclosure. On market for 108 days. Price dropped from 243k to 230k. Rental Estimate 1,795 Zillow, Rent-0-Meter. 10k for fixes. Need laminate, paint, fixtures, and furnace, and toilet.

This will be primary residence and housed hacked first year. Asking 40k below. What are your guys thoughts buy and hold. Potential equity as well after fix up around 260k.

Does the 50% rule rule over cash flow and 14% Cash on Cash?

Ryan