Newbie trying to figure out deal analysis

[Gary McKissick]

Hey everyone,

I have spent the last year or so reading all the real estate material I can, continue reading and listening to the podcasts on here, but I'm trying to figure out my next move. Trying to invest in 2-4 unit multis for monthly cash flow

I have started scoping out properties and trying to figure out deal analysis. I think I know most expenses and have heard general rule of thumbs from here that 50% of income will go towards expenses. Does this 50% include loan repayment or no?

Once I find a "supposed" deal what's my next move? Contact the property to figure out more precise numbers?

Also I have no team or financing in place. Is this something I should get into place before I start contacting potential sellers?

*DISCLAIMER*

I live in Denver but want to invest in Dallas/Ft. Worth

Reason:

Seems the market is much better and higher cash flow more realistic

Use to live in Dallas and still visit one weekend per month

GF lives in Dallas and her mom is a property manager and Dad has a renovations business so they can help with various tasks.

Any thoughts/discussion/experience on investing outside of where you live would be helpful too. Thank you.