You also want to make sure the cash flow is real and not just a calculation on paper. 

I'm considering taking the numbers from there (they do calculate cashflow, % vacancy, % repairs and all that) and making spreadsheets with graphs/charts so I can track everything on a property by property basis and the portfolio as a whole. 

Sometimes people think they will based on the calculation on the voucher.

Given my geographic inability to personally manage the properties and long stretches of not having cell or internet service, I'm calculating 3rd party property management into all my deals.

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Tax preparers usually charge another $500 to prepare the 3115 calculation schedules per property so that saves you money.

How would they calculate DSCR?

We have found one that seems to be a great deal, but I believe that I have some calculating to do… 

Amortization schedules can be calculated online. 

Additionally, there's a fixed self-employment tax.Income Tax: 22% * $70K = $15.4KSelf-Employment Tax: 15.3% * $20K = $3.06KTotal Tax Due: $18.46KRemember to account for any state taxes as well.To defer taxes entirely, you could utilize a 1031 exchange, which allows you to reinvest the proceeds from the sale into a similar investment property, thus deferring the tax payment until a later date.Example #2: Long-Term Capital GainsNow, consider a scenario where you hold onto the property for over a year.Project Details:Property Cost: $70KRenovation Costs: $50KResale Price: $200KProfit: $80K ($200K – $50K – $70K)Since self-employment tax doesn't apply, you only need to calculate the long-term capital gains tax.