@THU NGUYEN out of curiosity since I am still learning and trying to master how to calculate cash flow on properties, is this $1,600 with all expenses deducted?

The latest of those extrapolations is to calculate how much net rental income is needed to safely retire.

how did you calculate your cash return?

Establish condition and comps, etc), another tab for Buyers and their contact info, one tab for Fundamentals (some of the basic calculation formulas and things to think about), and finally, one tab for contractors and contacts in the area to address any potential problems with a property.Create a deal template in a separate file where you take all the info gathered from above and populate the template in order to send out to a prospective deal buyer...And that's as far as I've gotten.Any input on how to get a wholesale deal down on paper would be helpful...I need that too.

Lumping down free cash (appreciation), on a "cash flowing asset", for an extra 6-10K per year of taxable income, doesn't make much sense to me.  

My wife and I are very calculated people.

Obviously you could argue that a little more that would come back to you via taxes (~1-1.2k in most tax situations) but for sake of explanation I’m just trying to show that it shouldn’t be a fixed 2% that you plug into your calculations…Another reason I look at the 2% rule and chuckle a little is that while it may work in certain locations where the cost of ownership is low and maintenance is a much bigger percentage of the yearly picture it doesn’t hold up well under many areas.

I included those in my calculations.

You don't have to own it to sell it either ... that's what Real Estate Agents do, they sell properties they don't own.The counter argument is that if you JUST look at cash flow when calculating your ROI, then pretty much no time in the past 30 years in Southern California (for example) has looked like a good time to buy, and yet somehow lot's of folks still managed to make a lot of money buying and holding real estate here, with much higher returns than they would've had in the stock market, and I'm sure most people were telling them then that prices were too high and there is no way they could go any higher.

They did all of the loan calculations wrong, did not transfer money paid at closing to set up the escrow account, and then sold my loan to Suntrust, claiming I was in arrears when they had not properly credited  money I had paid at closing to set up the escrow account.