Quickbooks allows all expense entries and payment to attach to a customer job(house)

I'd be concerned with a $126K assessment and a $160K purchase price unless you had strong comparables data.

It's a great way to create wealth for you and your partners.I assume that you have already obtained all the historical performance data from the seller, but if you have not, that is a good place to start to see how this property in particular has performed.  

While it's great to know how to calculate values, without access to the raw data, your hands are somewhat tied.

Get quotes for insurance, figure the actual taxes, etc. to get as accurate expensive data as you can. 

A realtor is good for clooecting data for comps.

They generally get their data from the public records, which are often not updated in real time.  

And from the podcasts I've heard others say another good idea would be to work with property managers to get a feel for what landlording is like.My current job is with an online construction publication that started out as a temp job doing simple data entry, and I recently went full time.

% of the people data you posted or is that from Gary`s BS file?

Personally, implementing the above inspection insight, I'd pursue this one at the lowest entry price possible, add more margin than you think you need and accept a steep learning curve.