That's over 30% capital appreciation. 

You posted the raw data, just go one layer deeper to get to % returns to confirm your purchase price in relation to your expected return/profit/cashflow:$5,500 + $3,000 = $8,500/mo or $102k/yr GOI (gross annual rent collected)Knock off 25% for expenses and you are at $71k/yr or $5.9k/mo NOI on this $1.05M investment or holding this at a 6.8% cap rateWith your 7%, 75% LTV loan, you'd be paying $5k/mo for the loan, leaving you with $900/mo or $10.8k/yr in Cashflow.Now to determine your CoC return (Cash-on-Cash), take the $10.8k in CF and divide it by your equity-in, likely ~$300k, so 3.6% return on your cash/equity in this deal.

Appreciate the questions @Jacorion Williams. 

Any advice is greatly appreciated!

Pricing has been softening a bit, but values are still appreciating above the National average.

I appreciate the effort to help me understand in your answer, thank you for the response!

Be patient, buy right, and leverage your skills to maximize forced appreciation and profits.

Any suggestions and recommendations on the best ways to get started would be greatly appreciated.

I appreciate everyone's valuable feedback.

If anyone has good practices that they follow when undergoing underwriting for MF properties, I would appreciate any tips.