pickney street case study calculate the cash flows after financing during a single year of operations, once renovations are complete - that is, the cash flows from operations (given in Exhibit 1) minus the annual obligations to Bicego's bank and to the seller financing. In calculating the mortgage payment obligations, note that both the bank and the seller agree to allow Lee to make only interest payments during the first six months of their respective loans, and then require full amortization (principal plus interest) over the remaining 354 months. Thus, the "steady state" mortgage obligation should be based on a 354-month amortization