The leverage waterfall matters.
New refinance debt first repays existing debt. Only the remainder can be compared with owner capital, and even that is gross of interest, fees, and closing costs.
Refinance cash is not automatically profit.
Reconcile the supplied rental numbers line by line. The tool checks arithmetic only; it does not verify the house, appraisal, rent program, title, lender, or investment outcome.
READY TO AUDIT
--ALL-IN BEFORE FEES
--GROSS CAPITAL ABOVE DOWN PAYMENT
--MONTHLY AFTER MANAGEMENT
New loan - hard-money principal - owner down payment = gross capital above down payment
--REFINANCE PROCEEDS
--HARD-MONEY PRINCIPAL
--OWNER DOWN PAYMENT
--ANNUAL AFTER MANAGEMENT
6 UNMODELED COST CATEGORIES
Interest, lender fees, closing costs, taxes and insurance, vacancy and repairs, plus any wholesaler fee are not quantified by the source arithmetic.
The $505 gap
$1,425 rent minus $920 mortgage equals $505. But 8% management is $114, leaving $391 before every other operating cost.
Not verified
The tool does not confirm address, title, liens, appraisal, comparable sales, renovation scope, rent eligibility, occupancy timing, or lender terms.
Counterexample
A correct subtraction can still be a poor cash-flow estimate when a stated recurring expense is left outside the equation.
Transfer
Use verified closing and operating figures before making a decision. Arithmetic consistency is only one diligence layer.