It looks similar to an interest only loan, but the $134.00 a month is not taxable now or upon sale of the property.I have made a number of assumptions for my second example:Rent multiplier of 1x the property would bring $1,000 a monthcosts P&I 500 a monthTax and Ins 200 a month700 a month costs = 300 a month cash flow - not a bad scenarioTax liability 300 a month - tax on principal increase upon saleMy mortgageRent multiplier of 1x the property would bring $1,000 a monthcosts P&I 500 a monthBank loans you an additoanal  $134 per monthTax and Ins 200 a month700 a month costs = 300 + 134 = 434 cash flow Tax liability 300 a month and no tax liability for principal increase. 

In a single family home, it's not too worrisome, but when you have a multifamily property, you're multiplying the cost by how many units you have.

Reviewing the policy it looks like the premium is set to ~600 for both houses, but I can't get the bill we got to square with that if I multiply by 12, 4, or 2.

As long as you purchased at least as much as your net sale (approx 1,062,000) and as long as you used all of the cash to do that ($400K) you will defer all tax.The DST leverage only establishes how much you actual purchase - Take the cash you invested and multiply at the leverage position as Account Closed suggests. 

The Cap Rates will be different because of the price paid for the property, different rental income, different operating costs and the way each building is managed differently.The Gross Multiplier is more specific for different areas and for my analyzing the Gross Multiplier is much more important than the Cap Rate. 

If that number comes out lower than you expect, then you can adjust your strategy accordingly.Leverage is simply a multiplier - both on the upside and the downside.

Return on investment is much better in my opinion. when doing this you take your monthly return $125, multiplied by 12, $1500.

When you do those interest calculations, you neglect that the 10 year note model costs you $72,000 over 10 years in potential cash flow (very simply multiplying current monthly loss times the number of payments, I understand that this is overly simplistic).

Capex cannot comment on but what I do is I list everything I need to do in the next 5 years then multiply it by 50%.

Up here we leave snakes alone otherwise the field mice will 'go forth & multiply' !!!