It is a measurement of the amount of return the investor gets on the money he or she invest.  

Since NPV and IRR analysis are both found using free cash flows, you should model them in the same way as you measure CoC.

This past Wednesday, I told her my contractor and I will be walking through to take measurements of the place (She already moved out)  I told her I have a key and its up to her if she wants to be there.  

Let's talk guidelines and some property evaluation metrics and  what they measure. 

Miss that date and there is no corrective measure and the exchange is DOA.Right now I'm doing an exchange, and of course I'm looking for a superior property. 

One extra measure of protection I very often take is, depending on how bad their credit score is, I take extra deposit (an extra half a month, sometimes whole).

From a cost stand point in measuring returns, it does matter (all costs are not equal).  

The coursework taught me obscure laws and weird measuring techniques that will almost never come up in real life.

Sellers will not be excited about FHA financing as it takes much longer, and in some states, requires an FHA appraisal that is very stringent and will run with the property in perpetuity.Are you considering FHA because you don't have the cash for conventional?

Lending standards are not as stringent as you might think, some will even underwrite to a sub-600 credit score.