When analyzing properties, it's helpful to run a rental stress test to see if the deal can withstand unexpected challenges.

I would recommend that you analyze the operating side of the business and the capital side of the business separately.On the operating side, you can use AirDNA to predict the potential income which is gross revenue.

Here is my simple Top 5:1.Review the market – Understand the trends and conditions in the area.2.Analyze the property and the numbers – Ensure the deal makes financial sense.3.Visit the property – There’s no substitute for seeing it firsthand.4.Meet the team – Whether it’s your property manager, builder, or contractor, relationships matter.5.Complete inspections and appraisals – These protect you from costly surprises.If all these boxes are checked and the numbers work for your goals, then it’s likely a solid deal.

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up. 

There's no problems living next to your tenants, just tell them your the manager NOT the owner to avoid guilt tripping.You have to analyze the deal 1) while you're living there 2) when you move out.

Far different from buying and "maintaining" a property in hopes they market forces improve the value.It's the same as purchasing a stock after analyzing that market and charts.The other factor is inflation, the other thing we have no control over.

A realtor who understands the numbers can help analyze the property’s projected cash flow and ROI, plus they might know local leads from probate attorneys or even “drive for dollars” efforts that can reveal off market gems.

I did all of the work myself and know the ARV's in the area pretty well so that helped. this is like my 8th deal and I analyzed deals for like 3 years before I bought my first property so that has gotten way easier.

the answer is for you to learn how to analyze markets to find those micro-markets...like every other REI has to do. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.