If you want to buy a home to live in, find one that fits your needs.

Hello Kendall, as I am in the Atlanta area also I have found a few properties that fit your criteria, we should connect :)

It seems pretty difficult here in San Diego to find a home that will fit within BP formulas for cash flow, as a $250k 2-bedroom may only get you $1500/mo. rent.Can people in very high-priced markets like San Diego settle for less cash flow and still be wise investors?

I am being picky about location and what it looks like because my wife and I will live there, so the numbers dont fit the 50/2 rules.

Find one that fits the types of deals you want to do, tweak them to fit your specific market and set your investment criteria (maximum investment amount, minimum ROI as a % and as a dollar amount, maximum risk, etc.). 

Just pointing out a one size fits all answer probably wasn’t appropriate to describe underwriting requirements without more details.

@Sebastian Baker - I am looking at a property that fits in #2.

We're really interested in creating financial freedom for our family (we have a son) and we feel like real estate is a perfect fit.

It was never a "rule" it was simply a calculation that fitted good deals at that moment.It is no more valid than saying you should never pay more than 2 grand for a brand new car.

The best thing is to look online at properties that fit your figures then spend some time getting familiar with the areas.