That means paying all cash isn’t an option unless you plan to bring another $600k to the table. . 

Essentially are you cash flow positive or negative each month?

Use the ge benefits that you have earned to their fullest. 

That backs out to 10-15% cash on cash return in most cases.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

You're never going to be 3% financing and if it cash flows, I would lean toward keeping it.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

Purchase price: $325,000 Cash invested: $50,000 This time I acquired a property that needed little to no work.

The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.