Not exactly the 2% rule, but my analysis shows I should cashflow at least $500/month under 100% financing under several scenarios I evaluated. 

My husband and I have evaluated several properties and have narrowed down to 2 properties - one is a duplex and the other a triplex. 

To me the key is to make sure that the property is at least cash flow neutral from day 1 including all the reserves for future CapEx, otherwise you will be dieing the death of a thousand cuts.If you have a specific deal you're looking at I'd be happy to help you evaluate it in terms of your investment goals.Good hunting-Giovanni

Please send me the details of your project, current value, ARV, etc. and I will evaluate it and respond. 

Where do I find the best evaluation software.

If you want to send me an e-mail offline I'd be happy to help you evaluate the deal and connect you with a couple HML's.

Try to figure out what kind of work it would need and figure that into you evaluation.

You just need to evaluate the potential maintenance well before you purchase.  

Some months ago I evaluated a 90% of ARV property from the Bay area, offered here on BP, and showed in detail how the buyer would likely lose over $10k.

No property should be evaluated only on the income.