If you want to calculate it the other way you can but in my opinion it doesn't tell you anything useful. 

I typically don't include this in my closing costs, when calculating it, however, since these are not real expenses - you will get this money back eventually.You may want to add a property inspection fee and an appraisal fee to your total.

IMO - If someone is looking to park some money right now I would bet on Englewood, Brookside, Springdale, and Windsor Park.

Then my question is, does anyone know of a calculator or spreadsheet which helps you quantify how much for a particular rental you will save on taxes?

I bet most people wish they bought all they could in 2015.

An example: I've found a good deal (I've run it through the BP calculator and the numbers are excellent).

I understand how to calculate cap rate and cash-on-cash so my offer price is based on those numbers.

@Lawrence RatliffFirst off I commend you for the hustle, the ambition, and the huevos (Spanish for eggs referring to something else) to start your RE pursuits.but ...1) I agree strongly with @Justin R.2) I am not a big fan of any of the so called "rules" but the one that I use as a quick guide on ROI calculations is the 50% rule for lower cost units. 

I calculated about $400k total with $1650 in rents per side.

. $2300-2500 / month for a 3BR 2BA house in my area, and with my mortgage currently less than $1800 it may be my best bet.