Proof of Income & Expenses on Property

[Adam R.]

I just signed a P&S on my 1st commercial property. On the P&S I requested the past 12 months of income and expenses. What should I expect from the seller as far as detail? Just a pro forma income/expense summarized sheet or more detailed transactional accounting? During the pre-P&S I received a generic pro forma, but I questioned some of the expenses on the report and want to make sure I'm doing the proper due diligence. One of the expenses was for the gas bill and indicated $3,000, but I called National Grid and they provided the average monthly expense of $106 over the past 12 months, which is great if true.