Fair and honest seems like a solid formula.  

I see in their supplied Proforma that Net Operating Income is $75,720 and their listed Cap Rate is 5.11%.When I do the formula for finding value (value = NOI/Cap Rate), I end up with $1,481,800.What this appears to tell me is that they are charging a $218,200 premium over the value of the property when figured against a Cap Rate of 5.11%, correct?

Yes they know plenty about the strategies, they  may even know the formulas to evaluate a deal. but they just haven't gotten out into the marketplace to learn first hand what a good deal looks like.

I'm guessing the main point is how the landlord calculates your utility bill -- does the lease specify a formula for this or simply "utilities"?

My education didn't really go through the process of buying a home from a real estate agents perspective it "basically" just gave me definitions of words and went over math formulas.

That’s it....that’s the secret formula....good luck....

Thomas just curious how you break down the costs or what formula you use?

A loud speaker and keep playing the  "Barney " theme song .

This is the formula for filing a claim under the MA Consumer Protection Act - Chapter 93A.If the landlord fails to return the deposit, your friend should go straight to small claims court and fill out a complaint ($25.00). 

I think there was a Stephen Stills song   " Love the one your with"