In this work we analyze the effectiveness of the Sparse Identification of Nonlinear Dynamics (SINDy) technique on three benchmark datasets for nonlinear identification, to provide a better understanding of its suitability when tackling real dynamical systems. While SINDy can be an appealing strategy for pursuing physics-based learning, our analysis highlights difficulties in dealing with unobserved states and non-smooth dynamics. Due to the ubiquity of these features in real systems in general, and control applications in particular, we complement our analysis with hands-on approaches to tackle these issues in order to exploit SINDy also in these challenging contexts.