As I’m just starting the cash flow analysis, I use the HELOC and it’s rate calculate the debt service.

I understand the Cap Rate calculation, but I view that as more of a quick and dirty metric just to determine if the property is worth researching further.

Also worth finding the assessors parcel map for your land and calculating lot size based on those dimensions.Otherwise, I’d keep pushing the sale of 33 SF from a neighbor followed by a lot line adjustment as others noted.

A little help w/the 70% rule calculator and my math please.

Ok I'll be sure to take another look the numbers I ran on the BiggerPockets calculator showed Id be cashflowing over $200/mo.

Where there is some additional questions are whether items like health insurance for myself and my wife (the premiums not the actual medical expenses) would be considered part of this overhead (in the past we HAVE NOT put this into the "cost allocated" calculations for Sch E but instead listed them in Sch A.

I've put together a simple Comparable Appraised Homes Calculator to help folks use to input the information from these other properties in order to justify their appeal. 

Thanks a lot man,,,It's interesting that there are so many people that would rather bet on appreciation....rather than go for cashflow.

I think one has a calculator, or analysis guide.

Well, of course I wouldn't bet my money on red, but I am considering investing more of a science, not mere luck.