Projected NOI = $493K, primary through 3% lower vacancy, income from Utility because the current rent is inclusive of utilities and the Sponsor do not want to include Utility in the new terms, and reduced operating expenses Potential gross rent = 1.1M, minus 7% vacancy & other cost, Net rent = $970K (80K increase) Other income = $42K Add income from water reimbursement and electricity: $134K ($134K increase)-------- Real Estate Taxes 108K Insurance 42K (40K cost decrease) Property Management + Asset management 45K General & Administrative 15K Marketing 10K Payroll and Payroll Taxes145K (65K cost decrease) Repairs and Maintenance 46K Contract Services47K Electricity 77K Utilities Water 64K (60K cost decrease) Utilities Gas 15KI found the Sponsor through a very close friend a mine, she works in PE industry and she is very well analytical and she invests.

This isn't inclusive but should give you a good start.

This isn't inclusive but should give you a good start.

We are not pulling the cash out of the fund but are instead re-investing into another project, so we don't have any concerns about creating an inclusion even.

These are all unlevered/capital structure neutral.Gross Rent = ~$680kNet Rent = $638kNOI = $288k (inclusive of $30k of capex reserves)This NOI figure is fully baked.

This isn't inclusive but should give you a good start.

This isn't inclusive but should give you a good start.

This isn't inclusive but should give you a good start.

Mind you this is not all-inclusive. 

If you don't know much about the new construction housing shortfall in Columbus, I would start by reading an article by McKinsey: https://www.mckinsey.com/industries/social-sector/our-insights/sustainable-inclusive-housing-growth-a-case-study-on-columbus-ohio#One of the problems with Columbus is the cost of new construction with basements is substantial.