All the pro forma cash flow in the world won't do you any good if you end up with a squatter tenant in there for months not paying rent and letting the place deteriorate.

You're easily at 30%+, I've not really been one to burning up my time and calculator to get estimates of profits (besides the initial decision making process) or doing pro formas.

However, I was unable to form a business before I was 18 due to laws in Michigan, and did not record any taxes for the first year and a half.

Does anyone have any insight or a referral as to how I can go about forming a chapter?

I have reviewed the national site but to my understanding you join that once a local group is formed. Being in a small ci...

Approach this from the other direction, meaning, figure out what the market rent is - then deduct your expenses to make sure you will get a positive return or cash flow from the rental investment.Here's a link to the property Pro Forma I use.

What documents do I need so I can find real numbers and not pro forma numbers?

Form a business entity for business purposes as the primary matter, not a string of them thing you are bullet proof.

Form a landlord perspective, we are not renting with utilities included (a big plus ... we are also able to assign the water/sewer to the tenant in our SFH student rentals) and, as an added bonus, it allows us to track the performance of our buildings following the completion of a deep energy efficiency renovations.

In his pro forma most of the normal stuff is already included so the other really leaves me wondering where its going.Thanks for explaining the NOI.

Very unlikely that you will get your tenant to say you gave them this form as required.The Tax Account (BIRT) number is one that the City issues; they will probably want your SSN to give you the BIRT number.Some other links that you might find useful are located at this next link (I have no affiliation with the owner of the site - just passing along info that has already been compiled there):http://brownstonere.com/blog/landlordresourcesPhila is more tenant friendly than landlord friendly BTW - so in front of a judge the landlord will be expected to be the "pro" and have all paperwork in order ...