You will also get deep enough into Appraisal Methodology to Understand How the numbers are derived - which is what you want to know for the SELL.

In the "long run" this grandiose model makes sense, but it certainly has short-run painful consequences for people that derive the bulk of their income from selling labor.

There are some calculators derived from my original model here:V7 Of Small Apartment Complex Pro Formathat place the time value on cash flows and allow one to fine-tune things.

Both were presented and pretty close in terms of the derived value so I'm not sure which the lender dubbed *more* accurate. 

(Ok fine, some cocaine-addled lunatic smart guys and a mountain of derivative debt helped, but still).  

And, based on what you'll have above, you should be able to derive a few more numbers as well.There are always going to be more things than you can come up with a list for.

From the CA secretary of state's perspective, it's a Texas business with income derived only from out-of-California assets and from out-of-California people.Since he's a CA resident, he'd have to pay state income tax on the proceeds, but I don't see (A) how CA would know about the LLC and (B) why he'd have to pay the yearly CA fee.  

If the building is part of her rental then it is a different story and you would have to consider the income derived from rentals should have been hers but I would be surprised if that was the case.  

In fact, I wouldn't even mention them in your financing efforts unless it helps to show the net income derived therefrom.

One of the key federal tests to the creation of a security is "...the presence of an investment in a common venture premised on a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others."