@jason chopin -- Jason, it's not my money, but I'll tell you that you may never buy a property if you over-analyze.

Here is a spreadsheet I use for analyzing properties.

I spent lots of time analyzing other markets such as Northwest Indiana, Dallas, Huston, St.

It this area, you can take almost any property and turn it into an income producing revenue stream with good, hard work (not saying you should by-pass analyzing and re-analyzing any deals that come your way). 

@Jay Hinrichs I hadn't thought of actually analyzing the stability of the HOA. when you say look into their financials, do you mean making sure they're saving up for large Capex projects, or utilizing the fees in a responsible manner to make the properties look nice? 

Hey Calvin - popular opinion is no, however you may want to check your local laws to make sure.  

What should I look for and what do I need to know about my market to properly analyze a deal in a reasonable amount of time?

I've been studying up on MFRE and SFR investing, analyzing deals I'm finding, and just want to get some feedback on a couple of items.

I analyze every property separately to make sure the numbers work and none of my properties meet that rule but the numbers all work for me.

If you are worried about a deal then analyze it at break even and at your required rate of return.