@Kevin Wood: Fixed Asset Management module is included in the QuickBooks Accountant version where you can calculate the depreciation.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

Being a responsible person has nothing to do with the financial calculation for rate of return or cash flow. 

Entity structuring, basis calculation (i.e. breakout between building and land), deductible expenses, etc.

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!

Plus doing a quick read did you include all Personal property in the calculation such as furnishings?

And your calculation makes sense for a property that you plan to keep forever so to speak. 

Use a quitclaim or warranty deed to transfer the title, and be prepared to pay Chicago’s transfer tax, calculated at $7.50 per $1,000 of the property’s fair market value.

Calculate how much more in interest, lost profits, etc it will cost you to have this “blip” on your credit report.  

If that is the case then that is considered cost of doing business and I would advise that should be calculated in your costs/returns you provide to the investor.IF you are referring to the investor who is the borrower - then I would have included that cost in the loan agreement.