You may om me .

Terminology, types and class of properties, types of markets, all the numbers like cap rates, expense and operating cost line items, study properties for sale and look over the OM.

@John LeeWhen I look at a deal here is what I always ask for...Please send the OM, rent rolls, and trailing 12 month profit and loss statement.

Here are a few things I usually adjust for when underwriting off an OM, whether it be from LoopNet or not Closing Costs I can't tell you how many times I see CoC calculated on an OM using just 25% of the purchase price without regard for closing costs, prepaid insurance, prepaid taxes, or anything that might be required to closeVacancy % I bring this to the market average or if it’s a small to mid-sized building, I’ll look up and see how many units are being marketed online for rent.Property Management I will bring this to what the company I will use chargesStuff like that usually changes the numbers a bit.

I am curious how you determined the expenses though since usually the OM's down play the numbers and its not until underwriting where you would realize it.

While searching through the OM (offering Memorandum) for 5 data points (NOI, pro forma NOI, sources/uses, debt, exit strategy) I was only able to identify, NOI, and pro forma NOI.

If the property taxes haven't been paid in 10years how do I go about finding out more info om the property?

In my early days, I would just go through OMs and spreadsheets making sure I understood what every term meant and that all the numbers added up and told a cohesive story.

If you can get your hands on a OM, go through it line by line to understand how a deal is set up, what expenses to budget for etc.

We often find OM's that have unrealistic numbers that do not make sense.