For example, if you sell for $500,000, you can subtract your "routine selling expenses" to determine your net sale price. 

My EMD was $6,100, and noticed that they never subtracted that from my down payment.  

I do not subtract for income taxes as there are items outside of the property itself that are business expenses that may be tax deductible (office supplies, driving to property, etc.).

After that I, I then subtract cash needed for reserves, CAPEX, Maintenance, Vacancies and PM fees.

The Net Sale Price is computed by taking your Gross Sale Price ($660,000) and subtracting your routine “permissible selling expenses.”

While in Hawaii, I reviewed the landlord tenant laws and noted that security deposits are due back to the tenant 14 days following their walkthru inspection, with a line item listing of items being subtracted from the deposit. 

You are then able to subtract some (not all) of the routine selling expenses on you closing/settlement statement. 

Assuming rents at $1400/month then subtract your mortgage payment of around $600 - $700 which leaves you with around $800/month then subtract the $200 - $250 HOA fee on average would leave you with $600 or so in cash flow. 

Subtract 8-10% from what you think it could sell as a flip -Add 10% buffer for rehab -Don't lead your negotiation with your MAO.

Today I realized one mistake - I had been subtracting average maintenance and possible vacancies from Net rents instead of Gross.