My math behind this is that I'm able to acquire a $280,000 appreciating asset (probably with a higher than average appreciation) in a nice location that I may live in later on in life.

I ask the owners to tell me about the rents and as im writing down the rents of each unit and doing the math, they were actually understating the income the apartments were making. then since they lived at the property they had not even counted the future income from renting their own apt out which had the best updates since they lived there.

How do you do the math to see if this property is worth investing ?

This math is a fair calc of what the true equity is.   

Which for someone who is in real estate, lending or just knows simple math makes perfect sense. 

If my math is right, and if we assume a cap rate of 7%, that means this property has a net operating income of $565,000 (the list price) * 7% / 12 months / 16 units = $205.99 per unit. 

Then pay full amount at the end of the term (ex 30 yrs depending on loan terms) With that being said 70% LTV with 6%& 30% with 9%. 15% intrest (just using simple math) i would pay monthly along with expenses i could still generate a very positive caah flow.

This is a coin opp laundry room and after doing the math , I dont think was even breaking even after water/electric . 

Same math, 4.25%+.64%= 4.89% effective temporary interest rate, dropping to 4.25% once the mortgage insurance drops off. 

If I did my math right, which maybe I did not this seems to be preferrable...Borrow 55k out of my home for about 350 a month extraNew loan about 1400Rental income about 1900Which should leave me about $500 cash flow.200 for rental agency and 300 a month into a fund for repairs until that gets reasonably high and I can start taking profit.Am I missing something?