I do understand the theory of the IRR calculations, not too many people know how to actually calculate it (it's a strange trial and error calculation best left to a financial calculator).

It will be a process of trail and error I'm sure!

i just get an error message...

I'm a rookie investor from New Jersey.

The system tried to do a save as I would expect.2. errors were reported.

Numbers below:Purchase price: $125,000Down Payment: $25,000Mortgage payments: $6,084/yr (PI $507/month @ 5% 30 yr)Rental Income: $16,200/yrVacancy 5%: $810Property Tax: $900/yrInsurance: $800/yrProperty Manager 12%: $1,900/yrMaintenance: $2,400/yr ($100/door per month)Utilies: $300/yr waterAdvertising: $200/yrTotal Operating Expenses: $7,310Net Operating Income: $8,890Less Mortgage Payments: $6,084Total Cash Flow: $2,806Cash on Cash Return: $2,806/$25,000 = 11.2%Any errors in my numbers?

Liens, divorce, death-estate matters and errors in closings ot transfers happen all the time.

But then again, I'm a rookie.

Now I am starting to see the error of my ways... ( although I haven't started rehab yet so maybe I shouldn't speak to soon) @Brian A and Kevin- Thanks for the motivation guys. :) Although I missed the cup of coffee (and breakfast) I have definately not given up hope :D

I find it hard to believe that you didn't notice a $10,000 error in your favor.