I sold two years ago with cash flow of over $1 million in eight years plus increase in value of 200%. That is not the number to use for return on investment since the down payment was approximately 25%. I asked for anyone ( accountant) to determine what the annual rate of return on the down payment was. Cash flow was after all expenses, taxes, management etc. and was truly a net amount. To be accurate on return on investment, it needs to be on down payment not purchase price of the property originally.