Typically 1x4's were attached to the sides of the floor joist flush with the bottom. 1x material was bridged across those 1x4's to form a space for the cinders.

Changes in income and expenses and costs to dispose of an asset can be factored in over a pro-forma period bringing each period to its present value.

I am looking for a good multi-family and or single family pro-forma with something that can keep track of build cost. 

They might be that high in a poorly managed building with master meters, but the rents are a lot higher than other places so the expense ratio falls.For an apartment building here you need to build a pro forma with actual expenses for utilities, property taxes (1.25% of purchase price), insurance, etc.With a rent controlled building you need to know that you may or may not be able to get the unit vacant.

Its not even an option.What you will have to do is form a great connection with an agent in the states that you want to invest in and have them place bids for you.  

With that I see cap rates bouncing back relatively quickly on stable assets, but I think the days of the value add investment going for crazy high prices based on pro forma alone, is gone for a while.

It would be pretty easy to add a formula along the bottom of the Pro-forma chart dividing your Return each year over your Cumulative Equity in the property and seeing in which year that number peaks. 

If so, how do you intend to bring them in-line with market)Have a pro forma prepared Work on your bio – not many people do it but it adds a lot of value when building new relationships with lenders.

Too much to go into here, but one rule is that your investors can not invest more than 10% of their net worth on any one loan.Alternately, and well beyond your skill set at this point, Sean, would be to form a mortgage/investment pool.

When I run pro formas based on splitting equity with an investor or getting a loan, it creates a fairly narrow return on both sides, so I've been scratching my hear.Recently, a friend was telling me about a team he knows in Chicago that will sign long-term leases on apartments where the owner is simply looking for stable, consistent income.