Eventually raising rents to around $2600 conservatively) Tenants Pay all utilities Plus vacancy/capex/repairs and what not (just didn't feel like doing the math right now)It's not a home run as far as ROI but this is in an up and coming area and I fully expect this to appreciate rather well in the future.

So, when you are doing your math to figure out cash flow, you need to consider the cost of money, (how much your mortgage payments will be.) 

Thank you, you did my homework for me in one sitting and now I have one duty completed.

I also worked for the university as a math tutor in a learning lab.

Not sure whats going on with the math, but you are looking at a cash flow negative property in hopes of turing it arround on a number of assumptions, which may or may not materialize the way you expect and hope they will.

Given that math... the HELOC at 90% LTV against 210k would give you 189k... minus the 160k first position mortgage... you would get 29k.

He sells a calculator homework book that we use.

If someone can help me with the maths that would be great.  

Just wanted to followup with you, here is an article about metal roofs you can read. as @Matt Gragg pointed out, yes, if you are by the ocean it can corrode a lot faster, but it depends on the material you use, the cheaper material will corrode and thats why you have to do your homework and see how much you want to spend. here is the article: http://www.metalroofing.systems/top-70-metal-roofi...

The value of the asset lost value against inflation.Although then you also have to take into account that you are buying at a leveraged position....so even if your asset goes down in real terms, but up in nominal terms, you still could possibly end up with a good return because of the leverage against the asset.Uhm yeah, real estate math can get pretty complicated when you start accounting for inflation.