If that is the case, cash flow is a necessity.If you have the means to absorb negative cash flow then you should concentrate on total return.  

Quote from @Jose Ramirez: I recently rehab a house in north Chicago and I’m looking for quotes for cash out refi for 30 year loan for investment property  Happy to connect 

Hey everyone, I’ve been digging into the BiggerPockets podcasts lately, and from what I’ve heard for buy and hold investing Dave often targets 8-12 % cash-on-cash returns on small multifamily deals, especially in more affordable markets. 

Even with all that, prices are still low enough where you can find solid deals in the $120K–180K range that hit the 1% rule and cash flow from day one.

Quote from @Kevin Mertus: Hi, Can anyone write out what the formula used for Total Cash Invested? 

If you have the cash for 1-2 properties now, you can keep the cash out refi in your back pocket for when you want to add more. 

Purchase price: $80,000 Cash invested: $10,000 Old Single Family Home on a 2-acre lot zoned commercial and is adjacent to a strong development, making the dirt itself the real value driver.

I am trying to think of any time cap rate would matter more to me, so cash flow would be the primary driver. 

Purchase price: $80,000 Cash invested: $10,000 This purchase was more of a land play than anything else.

Others have pointed out the lack of location as an issue, but there's also the issue of your definition of cash flow.How did you calculate it?