You can do something like just see what the difference in ROI is between a house that brings in the 1% rule and a house that brings in the 2% rule and once you do it over and over, you will start to know immediately what price to pay for the amount of rent that a house will produce because you will start to understand and find your comfort level of how hard you want your money to work (If you are comfortable with your money working extremely hard and producing what may seem like a higher return, "sometimes" you will invest in lower class areas because the price points are low compared to the rents). 

@Kiesha CurtisTo piggyback on @Basit Siddiqi, first figure out everybody's comfort level with each other. 

I was in the Marines for 6 years, so I am more comfortable getting rentals near bases.. more notably, Pensacola Naval Station!

The owner doesn’t want to send the tenant a lease termination letter based on liability in the post-covid climate(he discussed with his lawyer and no amount of earnest money will make him comfortable to give the tenant notice).

I have taken a few personal finance courses in studying to get my CFP accreditation so am comfortable using these calcs and putting the time in to do them properly.What is your take?

It's all about what you and the seller feel comfortable with.

It's not always comfortable, but if you started calling down there every day, it's amazing how permits and other things can float to the top of their desks.

If I lived out of the area, then I doubt I'd feel comfortable trying to self manage.

Are you comfortable with the risk of leverage?

We decided the scale of the deal was one we would be comfortable with for our first flip.