I use the 50% rule as a guide; but it is very dependable and surprisingly accurate. 

@Johnathan Fremgen, so I think it depends on your market as to whether that is a good deal or not.

It may depend on your jurisdiction and what you defined in the rental agreement.

It really depends on your market and your tenant.

@William HustonLot of that depends on your goals and a big part depends on rent to value ratios in your area.  

View report*This link comes directly from our calculators, based on information input by the member who posted.basically analyzed this deal best i could just started analyzing rental properties..loopnet ad barely had any info i just found some pictures on the inside and realizing that you would need more then 15k for rehab since it looks like it needs new cabinets in kitchens  would all depend on getting the deal right. ... thanks for any suggeestions and please let me knoe any good cities you guys think i should be looking at !

Sometimes depending on the county and type of auction you may only need to come up with 5-10% the day of and the balance a few weeks later.

This scales your investing.Forces you to network and depend on a team leading to relationships = more businessForces you to develop communication and business systems to stay on trackConsNot as easy to physically be on site if neededReally it comes down to how you want to invest.

Our planned purchase would both NOT be dependent on the sale of our current home, but would also NOT use the income from our current home.

an agent is representing a seller he makes zero money of leasing (well maybe some depending on the state?)