Hey Chris,Welcome to BP, there is a great forum on the 2% and 50% rules that should help you get perspective on if this is a good deal for you:http://www.biggerpockets.com/forums/88/topics/13335-5-rule-and-the-2-ruleThese are just general guidelines but a good way to make sure you play it safe the first time out.

Its not a great money maker, so there must be some other play.

I think the theory was there should have been children playing/ speed limit signs and speed bumps.

I would strongly advise a visit to your accountant and council before putting this into play.

Jon points to title as there is where the concept comes into play.

They play it "safe".I'd say many of us agree that you should leverage some of your equity...not ALL of it!...

Stay tuned for updates, I am playing phone tag with the seller!

One of them is:- Criteria (how to find the best deal)I understand the math part, but I'm sure that there are other elements at play such as location, the type of neighboorhood, etc.So my question is thisHow do you narrow down from a broad selection of properties to a single ideal property ?

"Run down, less appealing" areas are often where you find your profit for rentals.Nice houses in nice areas are speculative plays.

Larmon, with only 17 posts and your post playing so well into the list of favorable factors listed by CJ, sure looks like you might know CJ.