The property is in a really hot neighborhood and if renovated properly, would rent for 2k. 

It is a very hot market, but deals are still out there and being found.

Double up on their living space.For the true long term homeless having access to nice clean (maid service) and hot shower and free soap will probably be a nice luxury.

What are your go - to methods of analyzing a deal? (Looking for a thorough process on making sure it is a good buy)Are there any things that will instantly turn you off on a deal? What kind of returns / cash flow are ...

You are already short $50 per month, so no roof, appliances, hot water heater, hvac, bath and kitchen remodel.

Added to that, it is between Colorado Springs and Pueblo, both of which have been hot markets the past few years, and Colorado Springs is getting an Amazon facility on the south end (close to Widefield/Security).

That background in commercial real estate sales will be incredibly helpful in jumpstarting your MF investing.

Alex, congrats on your incredible success!

Is it too risky to do my very first deal during this pandemic in a virus hot spot?

Get a pre approval because the market is hot and the sellers won't make a deal with someone who doesn't have a pre-approval.The issue your going to run into in HSV is trying to find a 4 plex that's not fully occupied to qualify for the FHA loan.