Don't make the assumption that your contractor is just trying to make a quick buck by recommending replacement.

It's good Friday and I was hoping to get thoughts over the weekendUsing 7% vacancy rate and no assumptions on the garage I came up with on the calculator:CAP rate 16%Cash on Cash ROI   51%NOI $11,072I did not calculate CAPEX into the calculator properly???

I do wonder whether a triplex is the best way to capitalize on price appreciation, though, as I would be limited to selling to other investors and not owner occupants.Are my repair and CapEx assumptions too high? 

You failed to mention your age or any financial conditions in your letter so I will have to make certain assumptions and treat you like the average investor.You do have to train yourself about hearing the word "no" and turn in more offers that make you more competitive.

B area, I'd submit that's not a great assumption to make.

But they have a slider on their pro-forma so you can adjust your assumptions.  

First thing to do is pick a few markets - I would say 3-5 max and research them to be sure your assumptions are correct.

Quash that assumption or they will be a ongoing headache.

That said, you'd better be ironclad on your assumptions about repair costs and ARV (even on a cash-flow property).

., I was under the assumption that there were even closing cost with a HELOC, at least some form of loan origination fees.