To answer your question more directly, I typically look at minimum 0.20% the value of the property for cash flow.

20% down fixed rate 30yr mortgage How did you add value to the deal?

Identify your goals - Figure out if steady rental income or maximizing long-term property value is your top priority.

I work with a ton of clientele from NY who love buying investment properties in the Columbus market for the growth and appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I love more than anything that you see the value in providing housing and caring for your investment, however timing is everything.Once the tenants are out GO FOR IT!

Conventional loan How did you add value to the deal?

Have bought hundreds of property at auctions, including the first property I bought (detailed in Bigger Pockets Podcast #82) and the very first thing is you have to know value. 

That's how a business is valued.

I'm finding some value in doing that.