Hi,

I am working on a deal for a multi use property close to my home (3 1 bed/1bath apartments + 1 retail space), it is currently fully rented and would cash flow.  I am using the BP rental property calculator to arrive at a purchase price that would work for me and my goals.  My agent worked up the estimated costs sheet for me and it came back higher than I was originally expecting. 

My question is:

In the estimate (See attached picture) the first years insurance premium and the first years school taxes are included.  The calculator asks me to enter the monthly insurance cost and the annual taxes.  Should I be subtracting these two values from my closing costs value that I enter into the calculator?  Is entering the full estimated closing cost amount "double dipping"?

It is having an effect on my COC return.

Thanks

Tom