For me, the "wow" factor isn't enough motivation to do the work required to determine my exact net worth, and I honestly don't see any other reason to do it.

Look for properties that have excellent cash flow, and buy in bigger growing cities where the demand is increasing, so that you can maybe see some appreciation, but don't factor it into your calculations.  

I have many clients using the 'dscr/cash flow' loans, and for the ease of use, convenience, and other factors, the cost difference vs a Fannie loan is usually negligible in the long run. 

It appears your confusion on the 2nd place is because you're factoring in mortgage debt.

I learned about title companies minimizing their risk by not providing a policy due to a variety of factors that make them feel uncomfortable.

I want to calculate IRR while also factoring in the decreased return that will kick in about a year or so because of capital gains. 

I know LIDs probably aren't common in all areas of the country, but they are in the Vegas area and I don't find it easy to get information.For the record....I always factored this cost into my calculations and still liked the "big picture" as far as cash flow.   

But of course, the rent is still totally flat for 15 years, so I'm not sure how to factor that in. 

Just have to factor that into your numbers when running deals and offer at the right price.

Factor that in.2.