The way I learned is to simply sit down with a spreadsheet and pad of paper and figure things out.  

I’ve never done a flip and thought a couple might give me a cushion where I don’t breathe in a paper bag every time I put a down payment on a house and start rehabbing.

On paper it makes sense, but that really doesn't mean anything...what is the asset class/location like?...

QUESTION: Is the paper work such that me and the seller can complete WITHOUT a realtor or should I consider using a flat rate realtor at $1000 to help with the paperwork?

Hard to say without seeing anything on paper.

I posted a classified add in my local paper today and shared the MLS listing on my FB page.

But I would say that if you think you can cash flow $400 a meeting month, that's great on paper anyway.

It's not just getting papers.. 

@Stephen Kappre seen a few really good (on paper) options in Gloucester City love to know about your experience.Has anyone started focussing in on the Opportunity Zones yet?

Even if your first rental breaks even (on paper), and you buy a single family home instead of a duplex, that still leaves you with buying power of about $2378/month.  [$3500 - $1122 = $2378]You can play around with a mortgage calculator to get an idea of price range.