I cannot offer anything specific except just research as much as you can without getting too complex.
Consider the state of the market and where it may be going and whether it's better to wait or make a lower offer and secure it now if it's a good deal.I mean if the market dropped 10-20% that is an average and a $350k property may not drop much if it's cheap right now.
If fair price and a good return and easy to rent then would it matter if it dropped a little in value?It may not at all so I am just saying so in your mind you are content should it happen.
Be aware of agents fees,rates,landlord insurance and maintenance costs and don't even think of renting it out privately.A good agent that is on the front foot with rent arrears and does 6 or 12mnth inspections.
Allow for a 1-2% interest rate rise just in case and ask around and listen to all opinions whether positive or negative including any rubbish you get from in here.
