My first was a 17" that lasted me until 2015, when I upgraded to a 15" with a sold state drive - and that makes a big difference in speed!

Given that driving 3 hours was too much for you to do before putting in your sight unseen offer, I don’t think this is the right property for you.  

Also, it's not so far away that you couldn't drive there a couple of times a year. 

@Odie Ayaga:We wanted to set and drive strategy, which was owned by the marketing function at our companies.

I'm sure there isn't an exact formula and it depends on the area and other factors, but if there are rough rules that people follow it would be helpful for me to hear them.Lastly, the cash flow on this property isn't going to be much (after setting aside 5/5/5 for vacancy, repair, and cap expenditures) until I am able to bring the rents up to market rate, so I will be managing this property myself.

Any SJ buyer is factoring appreciation into their math, even if you don't.

First, your methodology above doesn't factor in the amount of time/effort you and your other money partner put into the job.  

@Torin MurphinAll Buckeye needs is a "cool factor" to attract people there.

@Robert Adams dunno really, maybe I'm spoiled back from my days of buying in 2012 or 2014 but it seems hard to find things that Cashflow slightly positive (to have reserves for CapEx improvements) when having to factor in Mortgage P&I also.

Driving around Tacoma, I came across a small property with an excellent water view.