Am I Analyzing Right?

[Larry H.]

I created a spreadsheet using the formulas recommended by BP and I am having a really hard time to find a deal that meets the $100 per door cash flow criteria for a buy and hold property. I am primarily looking into multifamily deals and mostly what I'm getting from the MLS are duplexes.

I also searched a single family home in an area I know I can get $1200-1500 rent on a single family 3/2.  On a house I thought seemed like a decent price I am getting negative cash flow based on my formulas.  Am I doing this right?

I need to get a home equity loan for the down payment, so I realize that doesn't help, but even if I didn't this property would still have negative cash flow. I even ran a scenario where if I could buy the property at $70,000 and only used the HELOC to pay for the total purchase price, with no mortgage, the cash flow is only $31.