This is something we'd need to educate ourselves on as it would help (in my mind) as we analyze different properties from the beginning. 

In addition I have read books and talked to investors but I am still struggling to analyze deals effectively.

There are some neighborhoods in West Warwick that are nicer than some neighborhoods in Johnston, and vice versa.The property tax rates are pretty similar too (22.89/1000 for Johnston and 23/1000 for WW) so I’d say it really comes down to analyzing the numbers on a specific property.

Still analyzing which route we want to start with.We live in a rural area with a very slow market and we are willing to move. 

Thanks again -I plan to start learning how to analyze a rental property...over and over again!

Don't know anyone in that area, but many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

If you want I have a decent excel deal analyzer based off of some I've found on the internet previously.

As a new investor one thing I think that will help me that was recently introduced to me by another investor is a spreadsheet that can analyze potential deals for me.

When you are analyzing a deal (house, condo, small multifamily) what % cash on cash are you looking to get? 

Do most people analyze on a 15 or 30 year loan?