Additionally, when talking "Cash on Cash" and Cap Rates with other investors, is it typically assumed that a Cash analysis on Cash includes the types of expenses I list below?  

It's way to expensive out here for me to buy properties in New York..

So far I've been able to calculate basis, figure out depreciation, and how to segregate expenses, but want to make sure I'm not missing out on something or calculating it wrong.

There is also a cost benefit to writing off some of the expenses you should discuss with your accountant or tax attorney.

It means everything is generally "fancier", more expensive and less "authentic".

Marketing is one of the largest expenses you might have and is very important.  

Closing costs: $3515 (3.5% down on FHA)Conventional 30 year @ 3.25%Income: Current rent: Lower 2BD $800 (rented MTM but I think I might be able to get $900)                     Upper 1BD $500 (I would occupy upper)Market Gross rents: $700-1200 2BDMonthly liabilities: Mortgage (P&I): $399Utilities: $150 Vacancy: $65 (5%) CapEx: $65 (5%) Insurance: $90 Repairs: $65 (5%) Property Management: Self managedProperty taxes: $408Total expenses: $1241Monthly cash flow~ $58.64/mo (Unless I can get $900 for rent then it would be ~$145/mo)My current rent is ~$500/mo with utilities.

There's a lot of guessing on the expense side, but I suppose the rather substantial condo fees at least mean I don't have to worry about big repairs like roof or anything.

So should be able to get 80% LTV at around 24k) I will make sure that my cash flow will cover all LOC expenses. 

Monthly Income:$1,150.00Monthly Expenses:$750.72Monthly Cashflow:$399.28Pro Forma Cap Rate:7.32%NOI:$9,156.00Total Cash Needed:$30,000.00Cash on Cash ROI:15.97%Purchase Cap Rate:9.16%Total Monthly Income:$1,150.00x50% for Expenses:$575.00Monthly Payment/Interest Payment:$363.72 Total Monthly Cashflow using 50% Rule:$211.28