EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Real Estate is definitely not just a "numbers analysis" and you are definitely thinking about things the right way - but I think a good next step for you would be to spend some time putting a lot of this stuff into a (very) basic financial model/spreadsheets mapping out all the potential costs and estimates on effect (effect on value, on exit, different scenarios) - I think getting started with that framework should help with these decisions immensely

If you have $50k to invest then you will probably be looking at properties in the mid-to-high $100s (assuming you're putting 20% down + closing costs and a little cushion).

Thanks, Kyser Some HOAs have transfer costs.

I have hate for no one.This is simply an observation or something that is important to understand when you are in this business- because when you go to turn certain units you may run into this big extra cost.

Unless you're in a place to do a 1031 exchange (which can have higher transaction costs, depending on the situation), there likely is a significant amount of capital gains to pay upon sale of a property for reinvesting, or if investing in alternate markets like stocks, bonds, CDs, etc. 

My advice is to buckle down and save enough for down payment, closing costs, and emergency/rehab fund before you make another investment.

I’m gaining knowledge of costs to replace certain things in the house.

If you were to wait until the lease ends, can you afford to carry the costs of the property until sold?

All that matters is what you net after selling costs minus what you paid for it. .