I tried looking to flip in Florida but everything is much more expensive here compared to anything else out of state and I know its riskier to flip out of state as well.Before buying I need toSee if I am buying in a good area/decent market (looking in the midwest specifically).Look at comps.See if the house is flippable or a money pit.Inspect homeTermite inspectionFoundation issues (I am only buying a house connected to the ground not with a crawl space)Structural issues.Roof issuesBad ceiling (uneven ceiling, popcorn ceiling)Window problemsElectrical issuesPlumbing issuesAC issuesMoldLeaksMight sound weird but too many crack on side walk or driveway.Actually have a contractor go through and see if it is flipable or not.

Unfortunately due to the business you choose to operate incidents like the one you experienced are more likely to occur compared to a property that's continually occupied by a tenant where the water would more likely be run at a higher frequency which would prevent the pipes from freezing.  

You can leverage the first deal you bought and your experience so far, which is a lot compared to someone starting.

This creates a market for both short-term and long-term rental properties.Affordable housing, Compared to cities like New York, Washington D.C., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

I agree with @Michael Baum, are they true comparables? 

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

And not to mention no stock matches the dividend rate one can get in real estate with such low risk/volatility. 20yrs ownership, oh-yeah, cash-flow on renting it would be HUGE now so it's easily comparable to a 20%+ monthly dividend, if not more.

If anyone has a good starter spreadsheet or knows of a reliable website for deal analysis, I’d greatly appreciate your recommendations!

First, it fast-tracks your learning as an investor - you are forced to develop better time management skills, build your network of reliable contractors/ handymen, etc..Second, when you are ready to transition to a property manager, you are well equipped to evaluate and hire the right company.3.

Kathy, check out Anchor Loans as a comparable.