Thus far I assume I will be need to get: an appraisal, asked for price, comps, known issues with property, exit strategy (my aim is buy & hold), and intended rehab if necessary.What addition information would I need to acquire before going in search of alternative financing.

I know the motto "measure twice, cut once".

I agree looking at gross rents and operating expenses is where I would start in comparisons of alternatives, but looking for a way to quantify the comparisons with a summary measure.

A lender will use the calculation (75% * rent - PITI) to determine net rental income, so a deal like the one you describe is cash flow positive by that measure.  

I am looking for some feedback from those who own other business interest that they are somewhat removed from the day to day.One of my goals for 2015/2016 is to buy another small business to ad to my portfolio.I am looking into the following businesses.Car washLaundromatHair salon/barber shopBeverage storeBar & grillFood truckI would be involved in the direction of the business but am aiming toward semi passive businesses or those that are more labor intensive but I can put the right people in place for the day to day.Do any of you own any of the above businesses?

"[28]The Michigan Historical Review writes that "Just as the riots following the assassination of Martin Luther King Jr. facilitated the passage of the federal Civil Rights Act of 1968, which included fair housing, so the Detroit riot of July 1967, 'the worst racial disturbance' of the century to that time, provided the impetus for the passage of Michigan’s fair housing law as well as similar measures in many Michigan communities."

Aim high, and land soft.

GFA Management out of Indianapolis, IN Many people have found materials from Frank Rolfe & Dave Reynolds also very valuable. mobilehomeuniversity.com My company also publishes a monthly newsletter, The Chattel Finance Newsletter aimed at retailers and community owners.

It also depends on your exit strategy if you're aiming for rentals, flips... or a rental rehab flip (not as much competition, but requires more capital). 

As long as you know how your investment is performing on these three measures then it doesn't really matter what some rule says.Good luck.