Double checking whether my analysis is correct

[John Stewart]

Hello guys,

I've never pulled the trigger on a deal before, in part because I don't have all the capital lined up just quite yet but mostly because I am not confident in my ability to analyze a potential deal.  

When looking at a property initially I use the 1% rule to weed out the fluff (in my market, Chattanooga TN, there are plenty of properties trading about 1% or higher).  Then I subtract half of the gross monthly, per the 50% rule, to see what is left to cover the mortgage.  I've pretty much used 15 year term as base starting with 0% down (just to see) and gone up to determine what amount down makes it a good deal.  Every property I've looked at requires a massive downpayment, like 30% or more, in order to meet the $100 cash flow per unit requirement AND cover the monthly payment + 50% monthly expenses allowance.  

I understand deals are scarce, but am I missing something? It feels like maybe I've mixed it up somehow.

Every property I've looked at has been a residential multifamily property, 2-4 units.   

Would love input from people who have done deals and gone through this.