Analyzing Question - Newbie

[Victoria Leon]

Alright so I need some clarification! Anything helps guys, really. So me and my fiancé have this idea of doing an FHA Loan for our first property while we do some small renovations, a home obviously good enough for the FHA but still capable of being upgraded here and there. We then after the 12 months, would like to find ourselves another home to live in, while renting out the FHA Home.

My question is,

What kind of numbers / math do you do when evaluating single family homes? What are some strategies especially considering the goal is to get some tenants in there after the 12 months.

Again, anything helps. We are little by little paying off debt and saving everything we can to make this happen while actively looking at local properties.