My assumption is that this is not their first rodeo and as such, their loan documents should have covered the need for permits for partial payments on the improvement amounts. 

Adjust for any old/new contracts you're removing or addingG&A (Advertising, Office, Software, Etc: T12 adjusted for any old/new contracts you're removing or addingReserves: $250-$350/unit multifamily; $0.15/sqft commercial; $1.00/sqft commerical TI'sTotal Expenses: Sum of all above expensesNET OPERATING INCOME = Project EGI - Total ExpensesProceed to look at multifamily / mixed use sale comps and make judgement call based on (i) going in / exit cap rate assumptions, (ii) $/unit, (iii) $/sqft, (iv) etc.

Assuming it's correct as CPE is gratifying between 2.5-3.5 then 30YRM would be permanent at 6 (sometimes 5) is the right assumption.

We have seen a 20% increase in median sale prices in Suffolk, and the assumption can be made that this is primarily due to the eastward migration in NYC’s metro market.

. - then they lose thousands:(Here's some useful food for thought (copy & paste):.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Compare how you would expect this home to perform as a rental with reasonable assumptions about cap ex, vacancy, repair etc and then figure out what kind of rental or possibly RENTALS (multiple) you could purchase if you sold this property and how would they perform.

Tax Questions:Are my assumptions in A, B and C and D above, correct?

If you do not qualify to get a new loan, you will not qualify to do an assumption.

We reviewed this deal from one of the major brokers as a potential value-added implementation, however this does not pan out with our current underwriting assumptions.

@Gregory Schwartz don't jump to assumptions!