How many ways to get NOI ?

[Christie Gahan]

I'm reading a P&L that came up with a NOI that did not take in to account property taxes? How is that a thing? Is the formula ....

Income - mandatory expenses ... ( taxes, insurance)  

Income - taxes, insurance and utilities ( if covered in rent)

Income - taxes, insurance, utilities and ......????

OR, is the important thing here, that you run your own numbers and make sure that you are using the same formula every time? Can you leave something out if it is in your risk tolerence level? I'm thinking West Coast investors here that are looking at equity. There are lots of investors in my area that think a cash flowing property is one that pays the mortgage. They are willing to pay all CapEx, repairs, etc out of pocket.