What to look for in Pro Formas

[Tom Price]

Here is a rookie question. As I am looking at various pro forma's that give the numbers behind a property, what are some things I should be considering that may be being left out or that are misleading? I am really trying to dig into the numbers and understand things before I lay out actual cash so I would appreciate any info or experiences where people looked at the numbers and after renting properties now realize things they should have looked out for beforehand.