Wrapping my brain around appreciation/equity vs cash flow...

[Craig Lee]

Starting to see the light, but this deal would be my first deal focusing on equity gain and appreciation.  Would you do it: $175k off-market, 3/2, needs less than $15k to be in excellent shape (all mechanicals are less than 5 years old, roof is 8 years old).  $190k all-in ($131,250 30 year loan, $43,750 DP and $15k in renovations).  Saving 15% for repairs/vacancies/capx.  Will cash flow $128.79 according to the BP rent calculator, and will easily comp out at $235,000.  $128 would be lowest monthly cash flow I've received (currently have 5 rentals), but I'm focusing on the $30,000+ in equity in this deal. 

What do you think?