I’m a new investor so I’m using very basic rules of thumb like the 2% rule for rents and the 50% rule for expenses when doing my initial analysis and I’d like to know if I’m being overly conservative and pricing myself out of deals.So if I see a duplex for sale and the asking price is $150k, using the 2% rule tells me I would need to receive $3k ($1.5k per unit) per month to properly cash flow the property.Now, let’s say actual rents per unit are $850 per month bringing that to a total of $1.7k per month.

Some people are not comfortable with hard money but it really conserves your funds.  

Let's say you fly out to your property once a year to check it out (you don't even have to do that, but we'll be conservative). $300 plane ticket, couple nights in a hotel $200, misc travel expenses...let's just say $600 a year to go check out your property.

I would run your numbers conservatively (not more than $950) and see if the deal still makes sense to you.

Her conservator was handling the sale in her behalf.  

If you can get the asking price down to where you would have some positive cash flow with what it is currently being rented for (or conservative estimates of rent in the area) then it might be worth it. 

Kevin,You may want to look into a conservation easement, which may provide tax benefits to the owners.https://glcp.georgia.gov/conservation-easementsI grew up on Long Island (Lynbrook) and have lived in Atlanta since 1980.Good luck with your property. 

Use the purchase price you are buying the property as the assessed value and apply it to the millage rates.If you want to be conservative you can add an additionally 3%.

I've seen deals cash flow higher than this, but these are conservative averages.  

Conservative estimates put this home's value at $100,000 very easily.