For my initial analysis I use tool created by Emily Du Plessis, which helps me figure out what I need in order to move forward.

About $500/mo cash flow.Link to deal analysis report here:  https://www.biggerpockets.com/calculators/shared/7...Would love to get feedback.  

I'm practicing doing rental analysis, but some of the homes on Zillow are priced REALLY low yet look like they're in decent condition.

Always remember to do the math analysis and try to look at your prospective properties before you make an offer and possibly back out of the deal if something is found that is major and you did not budget for.  

W/O an offer, we normally can't get to any PnL and our offer would very much like to be based upon that unobtainable PnL - - catch-22.My back of the napkin analysis goes like this:GSI - Expenses = NOIExpenses ASSUMED to be 33-50% of GSINOI * 10 (an assumed GRM) is the MAX  purchase price to be offered.When we get the Sch-E for two years and the corresponding rent rolls, we can correct our assumptions and amend our offer via the contingency approval of both.

Although a 6-unit is smaller than the size of the CRE loans I have dealt with, some of the same credit analysis might apply.  

*If anyone is willing to do this:I'm trying to practice my analysis skills but need someone to look over them to make sure i'm not screwing anything up.

So, after over 10 years of looking at properties and suffering from analysis from paralysis I finally am closing on my first rental at the end of this month.

Then run a cash over cash analysis to find your monthly mortgage nut, factor in furnishing, cleaning, maintenance etc...

Only after you've done those initial analysis should you probably go through with the transaction.