Please HelpName:

Read the information below and fill in the monthly amounts that follow: You find a $4-$unit

apartment building that needs some work. Similar buildings in good condition sell for $$300k($after repair value$).$

Assume that you pay $$185k$ for the property, pay closing costs of $$10k,$ and make renovations costing $$30k.$

After you complete the renovations, you obtain four tenants and obtain a $$200,000$ mortgage for $15$ years at $5\mathrm{.}5\%.$

You are now ready to manage the property!

The following monthly per unit information is given: $($Remember$,$ there are four units$).$

Gross rental income, $$925$; Capital expenditures, $$125.$

Various yearly operating expenses are as follows: $($These costs are for all units, not per unit$).$

Advertising, $$96$; Bank charges, $$48$; Extermination, $$320$; Insurance, $$900$;

License, $$240$; Sewer & trash, $$1,800$; Taxes, $$5,520$; Utilities, $$336$; and Other, $$60.$

Legal & professional fees are $$1,920$ every ten years for tenant evictions $($ $$480$ per unit $*4$ units$).$

$($Round off all answers to a whole dollar$).$

After entering the amounts above, your monthly 'Total Operating Expenses' on line $18$ should be $$1,359.$

Net Rental Income $($NRI$)$

Gross Rental Income $($GRI$)$

Cost of vacancy

Collection loss

Monthly

Operating Expenses

Advertising

Bank charges

Condo$/$HOA$/$Association fee

Extermination

Insurance $($hazard & liability$)$

Legal & professional $($incl$.$ lease fee$)$

License $($rental$)$

Management

Repairs & maintenance $($incl$.$ supplies$)$

Sewer & trash

Taxes $($property$)$

Utilities

Other $($postage$,$ office$)$

Total Operating Expenses

NOI $($Net Operating Income$)$

Debt Service $($Principal & interest$)$

Capital Expenditures

BTCF

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