1 Potential Rental Income 2 − Vacancy & Credit Losses 3 = Effective Rental Income 4 + Other Income (Collectible) 5 = Gross Operating Income 6 − Operating Expenses 7 = NET OPERATING INCOME 8 − Interest – 1st Mortgage 9 − Interest – 2nd Mortgage 10 − Participation Payments 11 − Cost Recovery – Improvements 12 − Cost Recovery – Personal Property 13 − Amortization of Loan Fees/Costs 14 − Leasing Commissions 15 = Real Estate Taxable Income 16 Tax Liability (Savings) at_____% 17 NET OPERATING INCOME (Line 7) 18 − Annual Debt Service 19 − Participation Payments 20 − Leasing Commissions 21 − Funded Reserves 22 = CASH FLOW BEFORE TAXES 23 − Tax Liability (Savings) (Line 16) 24 = CASH FLOW AFTER TAXES

However, if you bought at market high's, then it is still possible to make it out on top if can hold onto the property until recovery.

Another $100, while not insignificant, shouldn't break your bank (hopefully) and gives you some hope of recovery.

Some on BP will disagree, but both of my sons had academic and athletic D1 scholarships, and it would have made zero sense to throw those away.

@Dave Spooner I came to that time frame for a couple of reasons:1) It's a few months after the two-year requirement for exempting up to $250k in gains, so there's no pressure to rush the exit2) The upgrades I have planned can be done in stages, so it smoothes out the capital spend3) There's (in my opinion) going to be a lot of wreckage from COVID-19, none of which we can predict right now, so to me FY 2021 has a better-than-even chance of being a recovery year for the type of first-time buyer that this property would be attractive toUltimately, Q1 '22 takes us past the majority of the major uncertainty, and isn't much past the two-year mark that's required to get the exemptions.

I live in Waco, Texas and have worked in collegiate athletics for more than a decade.

This index signals a rocky economic recovery in the months ahead.

.- I agree that since it's not a vacation destination it'll probably be slower on the recovery end.  

Recessions are felt lighter, recoveries are quicker to materialize if not originate, unemployment is lower, acquisitions cost much lower in proportion to returns AND whole $'s, and the social make-up is ideal for performance. 

https://www.wlky.com/article/indoor-athletics-complex-proposed-near-louisville-mega-cavern/33515815Elizabethtown just got something similar and it has been a huge boom for their market.