Hopefully someone with a stronger intellect with spreadsheets will comment on that aspect.  

It is missing one aspect of property management - maintenance requests/tracking.I'd say Stessa is great for managing one to 20 units.  

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

It would be virtually certain to be cash flow negative.  

We were super lucky to have hit relatively low rates (15-year 2%-3% range) that we would not see again today.The Dallas property is now rented, giving a almost zero cash flow over a 15-year fixed mortgage, until the recent HOA increase pushed it into the negative side slightly.

I prefer my method because with the $800/month estimate you might buy a property believing its a great deal, BUT sell it after several years having made negative cash-flow.

Has anyone else gone through this exercise and can shed some light on the positive and negative aspects of the different approaches?

There are a number of posts on this site about negative experiences with 1-800 accountants.

@Irene Morgovsky what you are experiencing is that rents do NOT increase linearly with property values.Or look at it another way, the pool of renters that can afford higher & higher rents, shrinks faster than a corresponding pool of buyers.You could look into making it a short-term rental to try to improve rental income, but:1) Is it allowed in that area2) STR rates are coming downYou may have to accept "negative income" or sell.

Also if rent has hit its peak it might negatively cash flow if I try to rent it out.