I did the online demo, and it seemed more sophisticated than many of the others I stumbled upon.

I think it is fair to say that the 50% rule is a much better guideline than 45% because (a) it is easier to use in mental calculations, (b) it is more conservative and (c) it seems to have worked for so many successful BP investors.I consider myself fairly financially sophisticated but I would not second-guess the numbers that numerous investors have claimed from real experience managing MFDs because I do not have real-world experience managing a portfolio of apartment complexes.

Hardly the sophistication I was led to believe.

-Properties Owned-Date Purchased and Price-Receipts for materials-Amount on each credit card-Bank Amount Balances-Bills-Payroll-Receipts for sub contractors-Total invested in each project-Date project completed-Date sold or converted to rental-Business Cards-Loan payments and principal balances-Business Documents and Tax IDsMy biggest thing is entering daily receipts.

It takes a more sophisticated loan officer who can really understand your business.

People who lend their credit to RE investors are not that sophisticated.

CAP rate is used by people who are much more sophisticated than what you call novices.

$8.07 $7.35 Long term Government backed agency leases High demand rental type 3 to 5 year leases on 50% of the complex Excellent cash flow Estimated Expense Summary Actual Pro Forma Projected Taxes $72,490 $72,490 Insurance $12,131 $12,131 On-Site Management $30,000 $30,000 Trash $5,131 $5,131 Cable $1,708 $1,708 Maintenance $33,402 $23,270 Repairs $15,201 $6,090 Advertising $6,809 $4,074 Legal / Professional $7,483 $2,658 Administration $8,317 $8,317 Permits/ Licenses $1,104 $1,104 Telephone $18,294 $18,294 Payroll / Benefits $112,943 $105,250 Security $17,780 $17,780 Miscellaneous $19,896 $19,896 Utilities $143,030 $136,000 Workmen's Comp $5,388 $5,388 Auto Expenses $2,000 $2,000 Pest Control $716 $716 Furniture $4,356 Totals $518,179 $472,297

It is a great planning tool for those individuals to determine their current year estimated income in the beginning of December and make one estimated payment to the IRS via payroll withholding in December for all of their estimated tax payments.

Is it under the table or is he on the payroll?