@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

We've never used percentage-based criteria, like the 70% Rule, for purchases.

For my clients, I like Easy Streets bridge purchase and STR DSCR programs. 

I think it helps flippers as it is easy to find the purchase pricesp versus selling price.  

Any advice or recommendations on where to purchase a long term property for rent are appreciated!

Purchase price: $98,500 Cash invested: $15,000 owner financed on duplex, bought from a friend of the family. hopefully many more to comeHey @Jeffrey Eschbach, welcome to the BP Forum!

First, congratulations on purchasing your first property together.

I did a check on a guy 10 years ago came up clean as a whistle on my landlord association screening service.

So I found and purchased 3 undervalued properties from wholesalers and we are just finishing up the 3rd one.

Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.