Brand new roof.A  very comparable home of same type and sqft on the same street just sold for 105k yesterday.I am thinking to start at 100k and then subtract all repair costs that I find, but this is just a guesstimate without seeing the inside first. 

(Subtract that from sales price to get loan balance.)• How much are the monthly payment on the mortgage?

Subtract $815 which is what I pay for mortgage, taxes, and HOA dues, leaves $235).I was planning to start seriously looking next year, since I am finishing up paying off all debt except the mortgage.  

Let's try worst case. 210-185 = 25kThen subtract your rehab cost.Then the horrible part about 24 months is 24 mortgage payments.

Although I do believe you have to make an effort to re-rent the property and if you do get it rented, subtract each month's rent from the amount the previous tenant owes you.

and find out what the expense are...these are information that could be found easily...just subtract the income from expense and you will see your numbers...good lucksunsmicro

Exactly BSM, 70% of ARV and then subtract repairs.

Cash flow is determined by subtracting the operating expenses and debt from the gross rents.

The rate is calculated in a simple fashion as follows: * Net Income / Capital Cost = Capitalization RateFor instance, if a building is purchased for $1,000,000 sale price and it produces $100,000 in positive net cash flow (the amount left over after fixed costs and variable costs are subtracted from gross lease income) during one year, then: * $100,000 / $1,000,000 = 0.10 = 10%That asset's capitalization rate is ten percent.Capitalization rates are a measure of how fast an investment will pay for itself in net cash flows.

OK, I guess my first post was hard to understand, lol.Basically, what do you subtract from your "net operating income"?