How to quickly evaluate a rental?

[Kaleb Dodson]

Hello everyone!

My partner and I would love to get more information concerning gathering operating expenses information for a potential rental deal. I've heard of the trailing twelve, and I know you can just ask for that from the seller. What I am wanting to know is, how can i get really quick information to evaluate pursuing a rental opportunity without the need to know what the taxes, insurance, water, trash, and etc expenses are? 

Ex. When figuring out the capitalization rate, you need to know the annual Net Operating Income (NOI), which requires knowing all of the above I mentioned before.

Please correct me if I'm making this more difficult than it needs to be.

THANK!

[Justin Miller]

Hey Caleb, BiggerPockets has great calculator tools to help with that, but if you’ve already used up your 6 free tries I would recommend downloading the DealCheck app. I just downloaded it and it is SUPER helpful in analyzing deals. It will even give you rent estimates.