Spread Sheet numbers

[Martin Weiss]

I currently own a 4 bd 2 bath 1800sqft ranch style home with $95,000 left on the mortgage. My plan is rent the house for $1600/ mo. I would like to refinance the house for $130,000 and use the $45,000 in equity to purchase a second rental property. I have tried using the rental property calculator, but the 45k completely throws off my numbers. So I am completely at a loss on how to properly calculate the profit/ loss.  Any advice would greatly be appreciated.