I am VERY simple with my method. annual gross. divide it in half. leaves your Net operating income.

@Joe Johnson Maybe before anything you should define what you consider ROI and how you calculate it - this is how I do it:Cash Flow = Annual Income (or Monthly Rent x 12) – Vacancy (or Monthly Rent x 12 x Annual Vacancy Percentage) – Operating Expenses – Mortgage Payments (or Property Price minus Down Payment, all multiplied with Loan Factor times 12)Cash on Cash Return on Investment = Cash Flow / (Down Payment + Closing Costs)1.

My question is why doesn't the annual issued for 2017 equal the total amount if you add up all 12 months for 2017?

If I am utilizing a LOC against an investment portfolio @ 4.25% Interest with no term, and financing the entire deal, would my Cash on Cash be determined by dividing my annual revenue by what I paid annually to carry that LOC debt? 

@Moshe Wolfe, looks like flipping is your only exit strategy?

Assuming $67K Gross Annual Income / 12 = $5583 Per Month X 33% = $1842 PITI. $5583 Per Month X 36% = $2009 PITI.

The rent and utilities is unknown so I estimated.Rent = 900x2            1250x2Mortgage = 2000Tax = 3318Utilities = 9000Maintenance = 5160 (%10 of annual rent)Insurance = 4000Net Income = $6122 ($510/month)The insurance number and the utilities and rent are all estimated based off of my current house.

I pay VRBO my annual subscriptions for all of my properties and then see all the guest fees in addition.

Personally, I would stick with the subzero/wolf, thermador, etc appliances if that is your buyer (which will not be any cheaper).

The answer covering the broadest class of single family rentals in the Raleigh area is in the American Homes for Rent annual report.