Thanks for the comments...
We haven't actually invested yet, but have run lots of analysis and get the general idea of what we're looking for... Opportunity to add value, suitable hack opportunity, cash flowing (leaving me with an exit strategy), etc.
Another benefit is my Brother-in-law is an agent and broker in the area we're looking to move to so he'll be able to help as well.
Finally, I didn't know where the commercial cutoff is so thanks for that info.