How to analyze a real estate deal

[Gabriel Britt]

So from what I understand so far, the three things I need to bring to the bank are the deal, the debt, and the equity. I have the deal: It's a 4 bedroom, 3 bathroom single family home in Columbia, SC currently for sale for $220,000. How do I figure out if this is a good opportunity? I want to buy at a low price, in a good location, and rent out the property so that it cash flows. The median rent in 29229 is $2200/mo. What do I have to do to figure out the math on this?

Does that mean if I can find 11 people who will put down $20,000 each, we could pay cash for the deal? They would turn that $20000 investment into $200 monthly rental income, and that would add up to $72,000 over the next 30 years, off of an initial $20,000 investment.