It seems to make more sense to evaluate a property based on Cap Rate and treat financing separately.

I just had an opportunity come up that I wasn't looking for, and I don't fully know how to evaluate it.

I would be eager to learn more about MOA and all the variables considered in that evaluation!

I am trying to evaluate a potential project and I have positive cash flow, however when I look at 50% rule it's negative.

You evaluate rentals on the cash flow you will get and any potential equity you can get by buying well.

I'll start evaluating my strengths and what I am passionate about.Wholesaling and multi-family are my two main interests so far from what I've learned about in the past few months. 

 Mark, thank you for your offer, yes, I'm going to need your help, as soon as I can find professional advice in regards to the financing process; I think my situation is a little more complicated, I'm still evaluating the situation myself, since my visits to local banks were not helpful.

If it's an "all or nothing" deal, evaluate them separately and see if each is a deal on it's own.

Just let me know and I would be glad to send you links to two properties I evaluated and currently looking at.  

I do aim for about a 10% cash on cash but with the market so tight and evaluating over a ten year hold I typically focus on an IRR of 20%.