Help with Property Analysis Worksheet

[Brandon Dwight]

Hi all, An accidental real estate investor here. I have two townhomes I have managed to hold on to and rent over the years. I am just getting started in the BP/REI world and am thinking these may not be the best properties to hold on to. I am trying to analysis whether or not in makes sense to hold on to these or sell them and try to re-invest in single family or other. I stumbled across this worksheet from a previous post: https://www.biggerpockets.com/forums/88/topics/25519-free-property-analysis-worksheet and was trying to enter the numbers and I have some questions I was hoping the BP community could help me with. Sorry if I sound like a newbie, but I am. Here goes:

Line 14 & 15: What is Building Cost and Land Cost? Is that what my place is worth or what I paid for it?

Line 17: What is "Less Mortgages"? Is that what I still owe on the mortgage?

Thank you!