Rookie stuck in analysis paralysis

[Travis Darnell]

Hi All!  I'm planning on purchasing my first rental property in about 3 months after I finish building an addition onto our home.  

I guess I was just hoping for some direction.  I've been staring at properties for literally the past two days and feel like I'm going in circles.

I know I need to narrow down my search and get very concise parameters that fit my lifestyle, which is purchasing a 2 bed, 1 bath house in South City St. Louis and making it a mid-term rental.  Minor renovations are fine, but not a major fixer-upper (as of right now anyways).  

But any nudge in the right direction would be so helpful.

I've read Brandon Turner's "Rental Property Investing" and loved the information.  "Rich Dad Poor Dad" was also huge for me.  But Robert Kiyosaki states that he can find a great deal within a day or two and that it would be tough for others to do (I'm paraphrasing).  

I'm just trying to minimize that gap and would love any advice in how to do so.

Thank you guys so much in advance.

Travis

[Melissa Justice]

@Travis Darnell,

You're honestly doing great! The fact that you're reading, analyzing, and already have a clear property type in mind puts you well ahead of most first-time investors. The feeling of going in circles is super common at this stage, but you're just one or two steps away from cutting through the noise.

Here’s how you can start making progress right now:

1. Sharpen Your Buy Box
You've already defined:
2 bed / 1 bath
South City St. Louis
Mid-term rental strategy
Minor reno only (no full gut jobs)

Now, just go a little deeper:
Set a firm purchase price range (e.g., $90K–$140K)
Define your target return (e.g., $350/month in net cash flow)
Choose 2–3 specific zip codes or blocks that meet your renter profile (close to hospitals, universities, or large employers for mid-term)

This eliminates 90% of the noise and helps you focus only on deals that meet your exact lifestyle and strategy.

2. Use a Simple Deal Analyzer
Set up a spreadsheet or use the BiggerPockets calculator. Focus on:

Mid-term rental income (check Furnished Finder for local comps)
Property taxes, insurance, utilities
Property management--even if you plan to self-manage short-term, budget for long-term outsourcing
Maintenance and vacancy reserves

You’ll get faster and sharper the more you analyze and this is exactly how you start closing the gap between you and the Kiyosakis of the world.

3. Consider Backup Markets Like Memphis or Akron/Canton
If you want to hedge your timeline or see more immediate cash flow potential, check out:

Memphis, TN – Known for its landlord-friendly laws, affordable properties, and steady rental demand. It’s one of the strongest cash-flow markets in the country. Many investors run mid- and long-term turnkey rentals here with success.

Akron & Canton, OH – These smaller Midwest markets offer well-priced turnkey homes that can cash flow day one. Some investors are using them for mid-term rentals near hospitals and universities.

Both markets have fully renovated properties with management already in place, which could align well with your "minor reno only" goal, especially if you're open to investing semi-remotely in the future.

4. Start Building Your Team Now
Even if your purchase is 3 months out, now’s the time to connect with:

Investor-friendly agents and wholesalers
Property managers who understand mid-term strategy
Lenders who can get you pre-approved
Other local or remote investors you can learn from

This support system will make everything smoother when the right property comes along.

Final Thought:
You’re doing everything right. That “overwhelmed” feeling? Totally normal. You’re not lost--you’re just one clear filter and a few reps away from landing your first deal.

Let me know if you want to analyze specific homes/deals-- sometimes seeing real deals helps it all click.

Best of luck,

Melissa