This is Excel but it is very good: http://www.themichaelblank.com/syndicated-deal-analyzer/

When you're analyzing a property to buy, use my Cashflow Analyzer spreadsheet.

With the assumption that this post is to educate others on the "how to's" of analyzing a note (from a return and risk standpoint), I think you hit the nail on the head.For me personally, the yield I get from buying a Performing note at a discount is of high importance, however, I only buy that note IF the collateral has equity to cover the downside, i.e. enough equity currently plus the added equity gained from the note discount at purchase to prevent any loss in the event of foreclosure needs.

If this is your first time buying I highly suggest you learn how to appropriately analyze a property by understanding the key indicators of a good deal. 

You have to analyze I fit really is a bad location OR if the timing of selling it wasn't right??

Also, you may analyze 10 or 100 properties before buying one at a significant discount.  

We wanted to buy a duplex to live in one unit and rent the other (as often recommended for new investors), but we're not sure whether the area we're intersted in has a strong demand for rentals or not.Does anyone have any recommendations on how to analyze whether an area is good for rentals?

I would figure out what path will generate the largest profit (or smallest loss) given an amount of effort you're comfortable with -- then do that.Of course, this is something that you should have figured out BEFORE you placed your bid...what makes you think the deals are profitable if you haven't gone through the exercise of analyzing them?

They seem to lending on almost anything nowadays.

@Justin Owens Welcome...feel free to send me your deals and I can help analyze them for you :)