@Ceasar Rosas, I am using a VA loan.

Maybe I am using the wrong formula to calculate the cap rate, what is the formula you would suggest I use? 

We are confident in the next 1-2 years we will see strong positive cash flow)Equity Generation per year: ~$5000Annual Return on Capital: ((-50x12)+5000)/60000= 7.3%NW BungalowI’m not going to breakdown the entire financial story of this property since I am using the Upper Unit as a primary residency as well as selfishly keeping the garage for myself.

Granville L.You might get a kick out if but the judge would likely not find it so amusing.  

Thought it was amusing, all the while having some targeted truth. 

Some people on this thread are amused or think you are being difficult, but you have to gather these records for your tenant application file, in the event some disgruntled applicant gives you grief - you can demonstrate consistent behavior on your part for all applicants ...

For my 1st rehab property, I am using American Modern Insurance Group.

I am used to dealing with a very diverse group of people and in general get along with people well.

I am using the Rental Properties Investment calculator on BP, however I am finding out that I still have quite a bit of a learning curve to understand all that goes into my first deal.  

I followed Ali Boone's "Napkin Math" example and the spreadsheet that I am using gave me the same numbers as in the example.