If you want a specific house you're probably going to have to give up on the great deal side of the equation.

in my opinion of the most crucial parts of this equation is takling to a lender before you do anything....a smaller local lender will be more investor friendly..when you wrap your mortgage with a contract, the attorney may or may not want to put a 2nd lien on the property to protect the end buyers...you should make sure this is ok with your lender before you pursue

The 2% Rule is the same thing as using the 50% Rule and applying a 12% Cap Rate on the annual NOI.I was looking at some properties and noticed I got the same value using the 2% rule and using the 50% for an estimate of NOI and happened to be using a 12% Cap.Being a math dork I did write it out symbolically and they both reduce to the same mathematical equation (Which BTW is just multiply the monthly rent by 50).

What kind of down payment % did your $34k equate to? 

, which in turn led to an even more competitive market, since the reticence from the buyer side of the equation was not quite at the same level.  

This is just how it is: a winner in a market always requires a loser on the other end of the equation!

So once they start getting their unemployment checks they will be making as a couple 1,200 to 1,750 a week which equates to a 62,400 to 91,000 a year salary.  

They have already rejected a $91K offer (That is what I was told) and my offer really equates to me  paying $1000 over asking.  

So if you are expecting to cash flow $300 per month, that equates to $3,600 per year. 

I definitely need to toss that into the equation.