Another poster a few days ago asked a similar question and much of the advice was focusing on doing non-traditional MF.

We bought a small, poorly run (owner went through divorce) bakery so that we could focus on growing it rather than working it- we have employees for everything except marketing, which we will eventually turn over. 

Since this is a true side business for me and I don't want to leave my legal practice anytime soon, I'm going to focus on local properties. 

Cash flow and a rental market is all i focus on here.

Focus on the numbers and buy for the long-term.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I would not focus on the best low ball number. 

You really want to focus in the early stages on the cash on cash return.

To focus on where you are now: if tenants move out, you would like to do improvements.

The main thing I would say is make sure that you have good folks to help keep you motivated and focused along the journey as there will be bumps and times when you think why the heck am I doing this for such a small dollar amount.