Hello from a newbie, and thanks for taking a look at my post.

I'm educating myself now with analyzing deals, with the goal of buying around Q1 of 2020 and having 2 rental properties purchased & rented by the end of next year.  I am not ready to start purchasing upgraded memberships, so I took my pen & paper approach to analyzing rentals and spent some time tonight applying that to an excel spreadsheet.  What I've come up with is below, and I'd like some more experienced eyes to take a look at this and let me know if I'm missing anything important, or if I'm off base on my analysis.  Here's an overview:

Asking price, offer price, 20% calculated deposit, estimated repairs and a field to feed into estimated vacancy are at the top. Comps section provided to the right for personal reference. Expenses listed at the left, with CapEx at 5% and Repairs at 10% of rents. Both of these are adjustable within the formula if necessary. Additional income field is added to the monthly income, when applicable.

I've created separate portions of the unit layout to capture what the landlord says the rents are currently collecting, and what I believe is more appropriate for the market, especially after a rehab/cleanup.  Each of these calculates its analysis separately.

Finally, a table that is all hand-entered based on the prior calculations, to analyze the sweet spot for purchase price.  In the case below, the house is renting for 1800 in a B neighborhood for B minus house.  With some work, I believe rents can be increased by about 500 per month.  I use that table to calculate the rental value with current rents versus target rents - both assuming 15K in repairs.  When adding in repairs, I find that there's no reasonable magic number for this property at current rents, but a small increase in rent makes the deal attractive at higher price points.

I will likely add some additional fields to the comparison chart so I can compare the investment (and do a true "turn-key" or minimum investment at current rents versus a refresh/rehab at target rents).  Do you see any other shortcomings in my approach?