You also benefited from the tax deduction that includes PMI and per your own statement, it's been a great experience until you looked at a recent statement that reminded you of what you once knew but forgot from long ago.Do the math.

Purchase price: $220,000 Sale price: $232,000 Beautiful cosmetic remodel that I wholesaled in Grafton, MA. The

It's basically math.

I'm not sure where you got your 'potential income of 8-9k' per month as my math has it at $950 for the rental and 9x$400 for the TOHs for a monthly gross of $4550. 

There is no set formula or math equation or even a good definition. 

. :( The 2nd appraiser didn't make me feel better because his math was awful and it looked like he had to work really hard to jack up the price.

I never ran the math.. but one thing I do think is a 27k little rental in the mid west probably would not have made us that much money in cash flow and appreciation over the same hold period and we just mowed it about every 3 years ..

@John BurkeYour math makes sense to me but the numbers in the original post don't.

Went to contract 10 minutes ago, for a duplex, all in full reno, 80k, rented for 22k a year about 15k net, do the math.

Equations, matter, Math matters reliability matters accurate system performance matters.