What are the specific order of operations when analyzing apt deal

[Account Closed]

Right now, the first thing i do is find out the NOI. income - expenses= noi

Then i find out cap rate . NOI/purchase price= cap

then i find out my cash return?   this is where im getting tripped up... How do i know what my cash return is going to be if i dont know what my financing is going to be?

[Jeff Greenberg]

Don't forget to include your closing costs, loan costs, acquisition expenses, and immediate capex expenses, when you figure you cash on cash.  Brokers love to use only the down payment and not the other costs of the deal.