My point is that there are many variables you have to look at and weigh.

If you are looking to compare your cash flow to other investors cash flow this becomes a problem because there are some important variable thrown in there.

Too many variables for our liking.

For a multifamily deal, the two critical variables are typically rent inflation (growth) and exit cap rate (sales price at the end of the hold period).

I eventually got to the point in my own turn key business that I stopped including variable expenses (e.g. vacancy, maintenance, CapEx) in the numbers.  

I know there are variables to ever situation.

The plan B in flipping seems non existent, either calculate all variables correctly, or risk losing time and money.

I would like to close on my first BRRRR property in the next month, but the obvious large variable is the rehab cost.

We could see with multi-family what we saw with single-family after 2008 -- a dramatic drop in prices and seller desperation.Now, there are a lot of variables, and it may not play out exactly like this.

I know the point has been made before as well, but if you have long term fixed rate debt, and the market sees rental increases (even if just at rate of inflation) cash flow should increase over the years as well, although variable expenses will increase along with the rental income (taxes, utility rates, etc), but eventually the loan payment will look smaller and smaller based on increasing rental income, so a break even today could look like a great investment in 10 years.