2% rule - How close is close enough?

[Nando Gapasin]

Hi, I have a potential deal that meets all of the criteria I've learnt of BP for a potential deal:

-$162 per door

-14% cash-over-cash

+$250 for 50% rule

Unfortunately, it's at .96% for the the 2% rule.  Has anyone else done deals this low on the 2% rule. I've heard other say 1-1.5%

[Gaspare U.]

I have limited experience in buying.. I was born into the buy them and hold them model. But I do NOT think I would ever let one single "rule" that investors use as a "guide" determine if I would buy or pass on a property. 

If you like the area, and feel your numbers are very conservative and the comps match. What's the holdup; my rent isn't 2% of the price? Compare two homes selling for 500k and both collect 50k a year in rent. But one building the tenant pays for all utilities and the 2nd building the LL pays for gas and water. Which is the better deal? I assume both would have the same numbers in regards to the 2% rule correct?

Just my humble opinion.