So this property holding cost: $3,600, but I gain $35,000 in Equity.

BRRRR -- This deal was closed a few months ago. I cashed out refi, pocket $4,000 and equity built: $67,184.34. It only cash flow $100 per month after expenses (PITI+8%PM). Like Brian always said, this is not a get rich quick. Anyway, I got the equity without using my money. Good luck everyone. If you have any questions, @Brian Waters would be happy to answer! LOL