.** Property Description **Address: Rapid City, SDType: HouseBeds/Baths: 3/Square Footage: 1,104Year Built: 1953Lot Size: 6,969 sq.ft.** Purchase & Rehab **Purchase Price: $117,000 ($106/sq.ft.)After Repair Value: $165,000Purchase Costs: $585Rehab Costs: $11,286 (75% Financed)Down Payment: $32,072Total Cash Needed: $32,657** Financing (Purchase) **Loan Type: AmortizingLoan Amount: $96,215Loan to Cost (LTC): 75%Loan to Value (LTV): 58.3%Loan Term: 30 YearsInterest Rate: 5%Monthly Payment: $517** Holding Costs **Holding Period: 2 MonthsLoan Payments: $1,033Recurring Costs: $414Total Holding Costs: $1,447 ($724/month)** Refinance **Refinance Loan Amount: $123,750Refinance Costs: -$4,950Purchase Loan Repayment: -$95,983Holding Costs: -$1,447Refinance Cash Out: $21,370Invested Cash: $32,657Refinance Cash Out: -$21,370Total Cash Invested: $11,286** Financing (Refinance) **Loan Type: AmortizingLoan Amount: $123,750Loan to Value (LTV): 75%Loan Term: 30 YearsInterest Rate: 4%Monthly Payment: $591** Cash Flow (Monthly) **Rent: $1,200Other Income: $75Vacancy: -$60 (5%)Expenses: -$255 (21%)NOI: $960Loan Payments: -$591Cash Flow: $369** Returns & Ratios (Year 1) **Cap Rate (Purchase Price): 9.8%Cap Rate (Market Value): 7%Cash on Cash Return: 39.3%Return on Equity: 9.2%Return on Investment: 277.6%Internal Rate of Return: 277.6%Rent to Value: 1%Gross Rent Multiplier: 8.13Equity Multiple: 3.78Break Even Ratio: 70.5%Debt Coverage Ratio: 1.62Debt Yield: 9.3%

@Peterson JeudyA couple of things for your consideration:Why are you restricting yourself to the geographical area you are looking at?

Some information include the mortgage payment in the calculation and others don't It would be my assumption that it should not be included because financing is different for every person and every deal so you want a number that universal and descriptive of the deal.

We all know utterly incompetent lawyers, doctors and CPAs.From your description, you found an excellent accountant.

Also (this will work better if you are geographically in Indy), you can type in "We buy Houses Indianapolis" or "Sell my house fast Indianapolis" and do the same with the results you see there.

The other issue is they don't like investors that are geographically far from their property.

It's not clear as to how big of a problem this was from your description. 

Not that I have any issues with the market, but getting some level of geographic diversity would increase your safety.

Based on the description, the property is around 100 yrs old and a lot of the issues that have been identified are not going away.

The descriptions are general in nature as there are many nuances to both.