Using Deal Finder and the Rental property calculator

[Mat Garcia]

I have enjoyed using the BiggerPockets Deal Finder (at https://www.biggerpockets.com/listings ) because it not only gives listings but prefills all the data to give you immediate feedback on a property and whether it cashflows. I was surprised, however, to find that the "cashflow" it presents is a simple Net Operating Income (NOI) minus mortgage payments-  an incomplete and wholly inadequate formula.

So I've just taken to subtracting the other expenses, which are on the same page, in order to come to a more accurate result. If this data is picked up and even displayed by the script, then why isn't this calculation being done automatically? Is this a limitation of the Deal Finder or is this maybe a  feature only for pro members?

Now, I am starting to use the Rental property calculator (at https://www.biggerpockets.com/analysis/rentals/new ) as well, in part to participate in the current 7 Deals in 7 Days Challenge. The results of the reports seem much more accurate since cashflow result takes into  account these expenses that I have to manually subtract with Deal Finder. However, in the Rental property calculator, unlike in Deal Finder, I have to manually enter all the data for a property!

So I am really baffled as to why this tool doesn't do what Deal Finder already does, or why Deal Finder doesn't do what the Rental property calculator does! I can only think that they were developed independently at different times and thus do not share the same feature set. But it would be a total "killer app" to combine the power of these two apps.

What I am doing now is using Deal Finder to find properties and then inputting those finds into the Rental property calculator. Am I doing this as intended/efficiently or is there a better way/workflow to do this?

Now, when using the Rental property calculator, should I enter the utility costs (electricity, gas, water) or should I leave these out because they would normally be the responsibility of the tenant to pay directly? Should the estimated market rent be lower if these tenant costs were taken into account?