Advice on Rental Property Numbers

[Robert Carney]

I'll do my best to keep this short, but I'm looking for some advice on analyzing properties. I'm relatively new to REI but have been consumed with learning the business over the past few months, BP has been an incredible resource for me so far. I want to make my first real move, but I'm not sure if I'm looking past good opportunities because of "Analysis Paralysis". Every deal I've looked at comes back as a poor decision and I'm wondering if it's truly the case or I'm missing something in my analysis. I just looked at a pre market duplex tonight that doesn't even come close to a good deal based on my evaluation but I know for a fact other investors are also running the numbers on it.

My Evaluation: 

I've attached an analysis for my current place, which I bought a couple of years ago (at these numbers). By all indicators it looks like a bad deal from a buy and hold perspective, but it's appreciated by at least $60k between the time of purchase and today. I know this is a rare case so I want to make sure I'm evaluating based on no or little appreciation and that I consider any appreciation a bonus. I'm in a very desirable area with the obvious red flags in my HOA dues, but it's a resort style community in a prime area so that's why it's so much - its also a very sound HOA financially. When I bought the place my goal was to live in it for a few years before renting while I make the money for my next move.

Any thoughts and feedback would be very much appreciated. Thank you.