New Investor in MKE seeking tips for market & deal analysis

[Leah Bates]

Hi community!

I am hoping to close on my first deal no later than March of 2022 in Milwaukee. My plan is to finance a duplex with a conventional 5% loan, owner occupy for 1-2 years then buy a Single Family Home to move into while renting out the other side of the duplex. 

The goal of the duplex is cash flow - at least $200 / mo (once we move out)
The goal of the single-family is undetermined yet -

Down the line, I'd also like to look at BRRR or other strategies where I'm doing some flips, but I don't want to get too ahead of myself just yet.

I've been looking at various areas in and around Milwaukee and listening to a bunch of podcasts and webinars on how to analyze a deal and a market. 

I would love any advice you have for a newbie trying to analyze an area + a deal. Or any stories you have learned through your journey to help build my confidence when going for it! 

For example - where are you looking to analyze an area? What are your determining factors? For a deal, the numbers really do speak the truth but I would love any insight regarding what's a realistic estimate for CapEx, Vacancies, etc. in the MKE area. Also, which calculators do you use in addition to Bigger Pockets?

Thanks!