Analysis Paralysis or Not?

[George Doran III]

Been looking for a duplex near my new job so I can get into the investment game and bring down my monthly out of pocket expenses. I found one that is basically move-in ready and has a tenant in one side which is perfect for my situation. However, I'm afraid that because I'll probably pay close to full price and it's in flood zone (zone A) that in the future this may really eat into my profits. I do feel confident I can raise the rent almost immediately for the other side though that may cause a vacancy for some time.

When i run the numbers I feel like its not a great deal, but I probably wouldn't lose much and over time would likely do fine. Yet, I don't want to start with a bad deal and ruin my ability to keep moving forward.

It also fits my current situation nicely and will get me living closer to my job. I own a single family home 2 hours away from that area. I would love to rent it but may be difficult to cash flow. I suppose I could try it for 1 lease and see how it goes.

I think I have this problem that I think everything is a permanent decision and that may not be the case, I could always reverse course or change my mind... I also think maybe it's just better I do SOMETHING and get going even if maybe it turns out to be somewhat of a mistake. 

Am I over analyzing or am I being wise here? Anyone go through anything similar? 

[Moises R Cosme]

George, 

What are the numbers?  How much are you paying for the house?  How much is the total 'all in' mortgage payment?  How much do you expect to get for rent?  Best way to get a response to your question is to put out the objective parts of the deal.  Analyzing the subjective factors is impossible because we do not walk in your shoes.

Post the numbers & I will give you my opinion.