So what I'm saying is think about all possible macro scenarios when analyzing the risk/reward of a deal.  

J Scott has collaborated with Bigger Pockets and published a very accessible guide to flipping houses The Book on Flipping Houses.It's a great place to start on where to look, how to analyze, etc.

I am getting hard money to buy it and plan on then refi-ing in 6 months, how do I use the calculator properly to reflect the hard money and then the refi to analyze the deal?

Background: Analyzing a Fourplex, fully occupied, ROI ~8% on current NOI basis assuming 50% in costs (before forced appreciation) (could go to 10% after but not much higher) I would say D area (Low income, high crime). 1920s building and will need maintenance Low income tenants – on month to month and possibly on welfare (not sure) To date my partner and I have only invested in A or B areas and only acquired non occupied units so that we get to select tenants first hand.

The general style, build and feel of homes in these 2 subdivisions are very similar, although I am only analyzing Oak Forest.

I've been working with a realtor and have been analyzing various properties.

Here's some good historical HAI data I got together and analyzed mid-last year.

Your skill at identifying great investments increases as the volume of offerings analyzed and considered increases. 

It's great feeling when you can share knowledge with other investors, really excited about joining BP, look forward to discussing/analyzing potential deals with you in the future. 

This was originally a question about a quick evaluation formula to quickly analyze mobile home park leads.