As Drew said, most likely you have to enter your financials from the monthly owner statement and/or yearly income statement into your quickbooks yourselves, add the expenses that you don't run through your PM's to calculate your full and final net income for your properties.

This is a simple calculation.

Here's the details:This is a Duplex 2 bed 1 bath Monthly Income: 2,000 Monthly Expenses:1310.00 Monthly Cash Flow:689.00 Pro Forma Cap Rate:8.53%NOI Total: 17052.00 Cash Needed: 28,327 Cash on Cash ROI Purchase 29.19% Cap Rate 9.48%Property InformationPurchase Price: $179,900.00Purchase Closing Costs: $3,559.00Estimated Repair Costs: $15,000.00Total Cost of Project: $198,459.00After Repair Value $200,000.00Down Payment: $6,296.50Loan Amount: $173,603.50Loan Points: 2.0Loan Fees: $3,472.07Amortized Over: 30 yearsLoan Interest Rate: 3.000%Monthly P&I: $731.92*This link comes directly from our calculators, based on information input by the member who posted.

View report*This link comes directly from our calculators, based on information input by the member who posted.

If it's a legal 2 and you want to make it a legal 3, that is more than likely going to require a zoning change as @Brie Schmidt mentioned but you'll have to double-check the calculations based on your current zoning just to be sure.Either way, definitely check with an architect like @Samuel Pavlovcik or @Prashanth Mahakali or you can always figure out the calculations yourself - I like this website: https://secondcityzoning.org/

Sometime the LTV limit is determined by how much they calculate you can afford. 

Hello BP members, although I am not new to rental properties, I feel that there is always something new to learn & I feel strongly that this site has some of the best advice & smartest minds when it comes to i...

Of course keep in mind that I'm a newbie so this is what I'm calculating. 

Is there a simple way to explain exactly how this is and how to calculate it for a specific market?

I know you can factor depreciation into taxes, but am I correct in thinking that shouldn’t be factored into cash flow calculations?