The millage is .2415 (So if a property is $100,000 you'd multiply it by 6% for non-owner occupied then by .2415 to find the annual taxes will be $1,449.

Once you've learned how to fix darn near everything, you'll be in a great position to take that ten grand (which should have multiplied by now) and buy your first fixer that you can fix yourself.

The sale price of $200k less the purchase price of $100k is $100k profit which is now multiplied by the 35% which equals $35,000.

I would also keep an eye& ear out for the emerging innovators, every significant economic shift and calamity breeds innovators and those innovators require seed capital, think Facebook, Google, Netflix and so on, those early $ investors made multipliers on their capital that makes any other investment pale in comparison.

To figure out the property tax, i just multiplied the sale price by .0125, then divided by 12.

That could be a long SOW, in order for that to be accurate, it should be a two part, one is sampling, walk every type and list down the sow at a worst case scenario, multiply, sum, to verify rehab numbers provided by others.

Also, I use 70% from ARV less rehab for that rule, not ARV - rehab then subtotal and multiply 70% like one post above, meaning for a small 1M house that needs 100k rehab, my MAO is 600k.

The good thing about this is that I can sell one off if I want to later but for now I have to get 2 of everything.Here is the deal just for one unit (the details are the same for both):Purchase price: $95,000No repairs needed (current owner is taking care of the big things found in the inspection)Current tenant pays $925/monthAssuming 5% vacancy and CapExAssuming 8% repairsInsurance is $95/monthTaxes are $153/monthWith a conventional loan of 25% down and a rate of 4.38% here is what the calculator gives me:NOI: $6,128.48Monthly Cash Flow: $154.97Total Cash Needed: $28,590COC ROI: 6.5%Pro Forma Cap: 6.14%Purchase Cap: 6.45%50% rule monthly cash flow: $106.76Income-Expense Ratio (2% Rule): 0.93%Total Initial Equity: $23,750.00Gross Rent Multiplier: 8.56Debt Coverage Ratio: 1.44%Is this a good deal?

Make sure you have columns for (at least):  Purchase price per above ground SF, Purchase price per gross building PSF, Foundation Size, Gross Rent Multiplier (the purchase price is X.X times the annual gross rents). 

For broad based return I multiply the P&I income by 12 months then divide by my desired return.