An A class property in Alabaster or Pelham might be great if it is at a 12-15% cash on cash return (8-9% Cap).What math are you doing to equate 30% coc to 13-15% cap rate or any of your other examples?

Do I charge myself rent in the equation? 

Very important to note that cheaper isn't always going to equate to better.

@Rick TurmanCOC-ROI = (annual net cash flow) / (net investment amount)  I can't see all your numbers, but when you refinance, you reduce the bottom part of that equation...i.e. the net investment amount, or the amount of your own cash in the deal. 

@Rina Amir@Radhika M. is correct with her guess in that the equation you're using is assuming 30% expenses, leaving 70% of total income as NOI.  

There are not set rules, but for a cash out refi there are closing costs, typically that equate to a few thousand dollars. 

The sweet spot for many cash flowing markets is around $85k (with another $20k in reserves), but if you're fairly much relying 100% on borrowings, the cash flow part of the equation becomes that much harder to remain positive.

If you are actively doing something with your money and setting up different insurance policies then it seems perfectly legitimate to compare it to me doing something similar and setting up a margin account as in my previous post which easily outperformed the infinite banking even without any of your  fees calculated into the equation with your 9.6% total earnings versus my 11% total earnings. 

The property taxes are higher in TX but that is just one part of the cash flow equation.  

I know when I first got started venturing down this path, I was all over the place without a real defined or clear plan.Sorry to make my response to you about food, but I kinda equate this experience in getting started in large apartments, and for that matter any type of real estate investing where you are getting started, to going to dinner at an all you can eat buffet.