Newbie looking for advise.

[Luke Rowan]

Hi BP'ers, I just started listening to bigger pockets podcast recently. I love that this community is out here! Thank you Josh, Brandon & team!!! I am currently working on purchasing my first rental property close to the Mayo Clinic. It is small but I will pocket $300-400 per month with the current renters who want to stay. How do analyst this purchase to determine if I am getting a good deal in the long run? It is a small 1 bedroom house but it cash flows. I am buying from a friend who buys foreclosure and either flips, sales or rents them. Any tips or advise is appreciated! I eager to learn all I can about buy and holds, and also connect with folks in Rochester, MN. Thank you friends! Luke