., management fees, advertising, furnishing, cleaning) listed on the 3rd party management/rental statement; OR Use the gross rents reduced by 20% to reflect extraordinary costs (i.e., management fees, advertising, furnishing, cleaning) associated with operating short-term rental property compared to non-short-term property, if actual not providedNOTE: (Gross Rents X 0.80) ÷ PITIA = DSCR• Documentation:Either of the following methods can be used to determine gross monthly rental income.

The area definitely reflected prices.

In this case the property cap rate reflects MY my valuation, and the market cap rate reflects my competing investors' valuation.

That's just me though and more reflective of my personality.

The design intent is to have the additions reflect the clients modern minimalistic style while respecting the Florida's vernacular that is common in the area.

Shouldn’t a Master Lease Payment be considered a DST operating expense and therefore be reflected in the proforma, the banker has asked.I have spent a lot of time trying to understand the whole 1031/DST/UPREIT space.

Is the appraisal actually low, or is it just that it doesn't reflect the current (possibly inflated) market?

When you buy a new place the taxes sooner or later (depending on locale) will adjust up to reflect the acquisition price.  

I've seen both appraisal valuation and market sales reflect a roughly $20-$25k premium for fresh water lots vs. dry lots.

The first spreadsheet reflects that [she] logged 844.75 hours managing the rental properties . . .