my answer to your questions..

1. any property I own, my purchases price must less than 75% of the current market value, that is including repair expenses.

2. any property I buy, it must cash flow within 6 month by itself, that is including time to do all repair works.

3. any property I rent, rent must cover all expenses, and provid a small cash income for my time.

if any property don't meet these requirments, walk away.