Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

If you switch later, that is another set of problems.When entering a transaction is easy, but trying to balance, analysis reports is a challenge - Now is the time you need to take an accounting course - learn debits and credits and more.Pick and choose wisely.

Happy to provide a quick analysis. 

Even if you bought with all cash and did ZERO renovations or capital improvements, just with the missing expenses mentioned above, your cash-on-cash return would be closer to 6-7%.You should re-evaluate the complete analysis to see for yourself.

After 45 + years investing in, purchasing and selling notes and real property; structuring “deals”, running investment funds and syndications, I have observed that many (most) investors both hesitate too long gathering too much information before making an offer AND do not do enough investigation, analysis and due diligence before they finalize a purchase.Seems like opposites, right?  

I'd be happy to walk through your analysis a bit more and provide some on the ground insight on your findings.

For preliminary numbers analysis, I’m using an online calculator available at this website: https://www.calculator.net/rental-property-calculator.html.

I use Zillow and the Rental Property calculator on this site to do all of my LTR analysis.

What I have learned very quickly owning these properties is that you can make these work on paper to convert them into rentals when you do your analysis today, but HOA increases are unexpected and completely out of your control.

Of course, not all newly formed households immediately become apartment renters, but an analysis of longer-term economic and demographic trends can be useful in understanding the current quarter's level of demand.