I've come across a bit of a conundrum: conflicting information on how to calculate Net Operating Income (NOI).

Every article and book I read has a different take. Some advocate for factoring in debt services, while others argue for excluding them from the calculation. Similarly, there's a divide on whether taxes should be included or not in determining NOI.

This lack of consensus has left me scratching my head. How can I accurately calculate NOI when the experts can't seem to agree on the fundamentals?

I'm reaching out to the Biggerpockets community to get some clarity. What's your take on this? How do you calculate NOI in your real estate investments, and what factors do you include or exclude from the equation?

I'm eager to learn from your experiences and insights. Let's debunk this confusion together!

Looking forward to your responses.