Or is there a more effective way?

I look forward to reading the blogs and tips from everyone.  

Check out the podcasts and the blogs.  

See Dodd Frank Summary https://www.biggerpockets.com/blogs/3/blog_posts/3...

@Mark JackowskiBP is full of useful resources such as forums and blogs.

You will find resources here from blogs to pod casts and forums.

Is there a simple and effective way to analyze a property, or is calculating the cap rate, 1% rule, 50% rule etc, cash on cash, NOI, all necessary?

@Shayla Fletcher I check all properties at http://maps.lsuagcenter.com/floodmaps/ If the flood hazard areas show in blue, (or sometimes grey on old black/white maps) that is the effective map that is used to determine flood insurance rates and whether or not flood insurance is required by lenders. 

Do you recommend any podcasts or blogs that discuss these types of sales?

Networking and cold calling are the most effective for lead gen.