Quick Question On 50% Rule

[Joseph Platyan]

I just want to confirm when using the 50% rule, we only use it to compare to the mortgage amount and not taxes, insurance, etc.?

So for example a property is 100K, has 1600/month in cash flow, with a $500 mortgage per month. So it's safe to assume using the 50% rule that $1600 / 2 = $800, I would have $300/month in true cash flow for this property?