Here's the thing - adding an additional line to show an appreciation would not make it more accurate since the value of a property fluctuates.My assumption is that you want to see how well this property is doing.You basically need to do a project income statement and get the cap rate. 

Once I get them up to $500, cap rate becomes 16.7%, cash ROI is 49.9%, and annual cash flow is $10,916 ($113/month/door).Are my estimates way off? 

It was never communicated to our agent until after the offer was accepted that the tenant is not happy with the new rent price and may move out ASAP.The sellers agent also told us only now that the tenant has been difficult to work with on scheduling showings and now the inspection, even though they already knew that the house was being sold.Then, the sellers agent asked us if we would be interested in using their own property management's service.I don't have any specific questions, but want to get anyone else's take on whether this is a suspicious situation, either with the tenant or with the sellers agent.

There are a ton of investors in San Francisco and NY accepting minuscule Cap Rates, because they've been seeing so much appreciation.Since depreciation is out (BTW no depreciation on land in the States either) you're really only left with appreciation (assuming no CF) and mortgage pay down. 

Appraisal late 2016 places value at $550K (We upgraded one kitchen cheap (free cabinets) and put in split HVAC into both units so maybe $15K cap expense). 

@Chris Krinslow - Not too difficult to understand with the right information.

Basically I'm working on an apartment aqusision, the very beginning stages, and trying to figure out what would be the highest loan to income ratio I should be willing to go. it's an 8 unit apartment building with an 8% cap rate. 100% rented for 10+ years.

I have my first and only (for the moment) rental property right in the smack middle of Miami-Dade county and was able to acquire a great cash flow duplex.My advice is... always do a deal analysis; purchase comps + rental market comps.This will give you an idea of what your cap rate should be.PS: Anyone that passes by this post, I am currently seeking multi family/distressed SFH props in the Miami-Dade/Broward County area.

If I can pick up houses at 70% of the ARV or even a couple at 75% of the ARV (I wouldn't do too many there), that will generate 400 to 500 gross rental profits (i.e. before repairs/cap ex), then I'm going to continue to do it.I thought they were completely gone and then I hit on 2 in a month.

I believe it would be very difficult for me to separate myself from direct liability from issues resulting from the property, as I am a direct manager of the property (it's almost absurd to think that I will never perform any managerial tasks or be responsible for the same as a live-in owner-occupant).