Profit and Loss Statement

[Chris T.]

This is a general question for those with more accounting experience.

I am trying to build a "rental resume" before sitting down with local banks and I am wanting to include a profit and loss summary for each of my rental properties.  Where I am having a little confusion is how to account for cash out refinances and capital expenditures.  I have tried finding examples and I haven't been able to find definitive answers.  So here are my questions:

1. How is the cash from a cash out refinance treated?  Income?
2. How are Capital Expenditures categorized? On some it appears as though it is treated as an expense like a repair, both others seem to break it out and list it after the NOI is calculated. It is shown as a deduction from reserves.

Ultimately if someone can point me to a great example or resource it would be greatly appreciated.  So far the books I have read and the templates in the BP FilePlace have not dealt directly with these items.