@Megan AliceMonthly rents $2820, and not quite 1% rule.

The rules have changed somewhat from the crisis when we first got into our duplex. 

I was away for over a week and am late in acknowledging your comments and support. 

My guideline is that I buy using the 1% rule, if you don't know what that is, you need to do more research before you buy.  

A 3/2 or even 3/1 on the other hand should rent at $1250 - $1400 all day long.You can probably find comps to support the $120k price and if the home is nicely renovated it may actually sell for that much, but I believe most 2/1 homes selling at this price are the ones selling to owner occupants, such as parents buying a home for Jr to live in during college.

Even if your correct your only barely hitting the one percent rule which sucks anyways .

Ive got a wonderful wife who is very supportive of me trying to make this real estate stuff work,  and two kids that are just the best.

Until you can afford to live on your own and support yourself you can not afford to invest or get married and start a family.

From what I've read two very simple rules for your investment decisions should be that 1) it has to cash flow and 2) it needs to be value add so that you can force appreciation.

I've decided to revisit flipping homes and I'm curious how realistic do you think the 70% Rule is?