I look at every single item in the pro forma and imagine that it is complete BS, and see if I can challenge it.

The only item I ever look at financials for is confirmation on who is paying utilities and what those are costing, if LL responsible, and even this can often be found with a quick call to the local utility and a question to the seller or listing agent about who's responsible for utilities.b) re-trading a deal is only frowned upon if you are re-trading on the smallest discrepancy.  

Returns of items that don't work/ don't fitSmoke and carbon detectors $100If you really want to make the garage an ADU ask the planning desk now and research if you need separate electric panel - do you need certain parking set backs or a carport?

We would need to add the contingencies for title, appraisal, inspection, etc so just wanting to make sure to cover all the necessary items.  

With the caveat that he doesn't have to purchase a CapEx items early based on monthly set-asides or rehab a trashed property beyond normal wear and tear.So in Joe's defense, your question is asking for "Net Cash Flow" which will include the need to factor in all cash initially invested being out of the deal.

You're still putting in a kitchen, bath, HVAC, electrical, etc. which are your larger cost items.

And we negotiate fees along the way for new items.

This is defined as those with gross receipts of $25,000,000 or less for a three-year period.Claiming Interest ExpenseIn order to capitalize on your interest expenses, taxes must be itemized, and investment interest expenses are to be listed under Schedule A on Form 1040.

@Chelsea Allen You raise two items here:1.

Since I posted this, I have had a few conversations with my mentor and other real estate investors/lenders and have a much better grasp on action items when the right deal comes along.