This can change the math pretty quickly.

On Page 134, he lists the following when analyzing a deal:Sales Price: $132,490.00Sales Expenses: $17,000.00Loan Balance: $55,004.72Total Invested Capital: $35,950.00Profit: $24,535.28I agree with his thought process here when he calculates net profit, but I'm trying to verify the net profit by adding up all the sources of income over the past five years in his example by doing the following:Appreciation over five years=$12,490 (see chart on Page 133).Cash flow ($297.73x12x5)=$17,863.80 over five years.Loan paydown: ($60,000-55,004.72)=$4,995.28 over five years.Sales Expenses are still $17,000.Doing the math, profit= $12,490+$17,863.80+$4,995.28-$17,000=$18,349.08There is a $6,186.20 difference from the net profit he calculates.My question is: Is this $6,186.20 difference due to the forced appreciation gained in the property from the rehab he does in this example?

It sounds like you’ve done your homework.

While the math per door is roughly the same, my thought is that I will have more doors still rented while I renovate one, and the overall costs for maintenance is roughly the same. 

As a creative professional historically "allergic to math," I never thought I'd consider real estate investing, but life is full of surprises!

Per door does not change the numbers but makes it easier to do napkin math and for people to grasp.

Folks have a hard time with Math..

I did my homework and checked out a few VA agencies, but FILAM stood out.

Some benefits of early-yearly homework.  

Here’s the deal (pun intended):Run the Numbers: If the deal makes sense on paper—cash flow, ROI, and all—trust the math, not just your gut.