Doing the 'numbers' on an Investment Property purchase

We are looking today at 'doing the numbers' in relation to an investment property deal. What are they? How do I know what is what.

As i talk about - this is pretty data heavy, so I have included all the numbers that I discuss below:

Equity Numbers:
1. Purchase Price: $500,000 (40% deposit-$200,000 cash & 60% loan - $300,000)

2. Reno costs: $100,000 - my cash

3. New Valuation: $900,000

4. New Mortgage: $540,000 - 60% LVR

5. Equity: $360,000

New mortgage of $540,000 less first mortgage of $300,000 less $300,000 your cash

= $60,000 of your own cash left in this deal

Cashflow numbers:

1. Rent: $52,000

2. Mortgage Costs: $35,100 (6.5% - interest only)

3. Fixed Costs - Rates, Insurance, ($5500)

4. Other costs: - repairs, etc. ($2000)

5. Cashflow $9400 pa or $783 per month