Math/Formula Help for Property Analysis

[Eric Sipe]

Hello all,

I am hoping someone will be able to help me. I am about to begin analyzing properties and want to make sure I have the correct formulas for each important item. I would appreciate it if anyone can tell me if my formulas are right/wrong. If I need to provide an example, please let me know!

Annual operating expenses = annual taxes+insurance+utilities+HOA fees+lawn/pests+vacancy+repairs+property management (i.e. does not include CapEx or mortgage)
NOI = annual gross income-annual operating expenses
Cap Rate = NOI - purchase price
Pro Forma Cap Rate = NOI / after repair value
Cash on Cash ROI = total annual cashflow / total invested capital
Total Initial Equity = (down payment + closing costs + estimated repair costs) + (after repair value - total cost of project)
Gross Rent Multiplier = purchase price / annual income

That is a lot of formulas! I just want to make sure I am going to be analyzing correctly. 

Thanks a lot,
Eric