I am just wondering if I stumbled upon a great deal or if this isn't as accurate as I think it is?

Then once they are on the same page, and if their numbers come back similar, that probably means it’s somewhat accurate, but the only way to know if get as many quotes as possible, if 5 quotes are within $5k and one is $20k cheaper, it probably means the low guy missed something and will try to get it back later through an argument, or just leave it out because it was missed and may not get discovered, or he underbid the job just to get it, and either won’t have enough money to pay his crew and finish, will finish but will try to get more money out of you through change orders, or just may not make any money, which is bad for him and you because he won’t be in business much longer! 

One really needs to see a title report and recorded instruments to answer questions like this accurately... but this sounds simple enough.

We have been hopeful that we could get more rent than our estimate and we are encouraged that you are thinking $2400 might be a more accurate market rate. 

Then look for your buyer and make sure your numbers are accurate.

CoC ROI (as it's more accurately called) is often short-handed as "ROI," though and that's usually what people mean.I highly recommend Frank Gallinelli's "What Every Real Estate Investor Needs to Know About Cash Flow..." 

Point being - without seeing what is actually behind the return and what goes into getting it ready, it is very difficult to provide an accurate quote or know if someone is getting a good deal. 

Chris, good to see you on the forum...we could use more of you here.Here are the technical accounting answers:Capital gains - income on P&LFlip profits - income on P&LRefinance proceeds - increase to Cash and Debt on your Balance Sheet (no P&L impact)Purchased equity - no impact to financial statementsPrincipal pay down - decrease to Cash and Debt on your Balance SheetCap Ex - decrease to Cash, increase to Assets (which are depreciated over their useful into the P&L)This will give you an accurate set of books. 

It's not 100% accurate but it's close enough to satisfy all parties. 

On all of the ones I tried (about 6) it would not show anywhere near an accurate number for cap rates because you can't even enter the info you need for that calculation.