a) What is the difference between a gross lease and a net lease? What expenses are paid by the landlord and by the tenant for each type of lease? b) When an appraisal of real estate is completed, the appraiser can use 3 approaches to value the real estate; what are they and what is basic premise of each? (similar sales, cost, income) Which approach or approaches would be used to value a residence? house of worship? apartment building? 1. c) What does the term capitalization mean? With which appraisal approach is it used? What is the basic capitalization formula? d) In terms of ownership rights, what is the difference between a condominium and a co-op? a) What is the difference between a gross lease and a net lease? What expenses are paid by the landlord and by the tenant for each type of lease? b) When an appraisal of real estate is completed, the appraiser can use 3 approaches to value the real estate; what are they and what is basic premise of each? (similar sales, cost, income) Which approach or approaches would be used to value a residence? house of worship? apartment building? 1. c) What does the term capitalization mean? With which appraisal approach is it used? What is the basic capitalization formula? d) In terms of ownership rights, what is the difference between a condominium and a co-op