IE: The Assessor value for both divided into total purchase price.

The TI part is actually an expense that is factored in when determining the NOI that the PI is divided by.

They have areas divided into zones  using the zip codes,  whereby if your rental falls in  Zone A, the min and max rent offers may range between $950 - $1,000, while the same rental in zone F may range between $1,000 - $1,300.  

Simply using NOI divided by an acceptable cap rate gives you the approximate value of the property. 

How do you get a guest estimation for an initial lot count, do you figure it of a 10% 15% or 20% land loss to environmental, road ingress/egress, then divide that by the base zone (the per lot minimum) / total available land ?

Then multiply this by the number of properties that you want to own and then divide by the amount of time you want to achieve this in.

But, that's over three years -- dividing by 3 yields an annualized cash-on-cash return of 12.18%.

You bill the residents for the utilites based on the square footage of their apartment, dividing the bills on a prorata basis.

In fact, I did some learnamication since your post and discovered that I don't really want RUBS at all.As you point out, RUBS (ratio utility billing system) is just a way of dividing up a bill *without* actually measuring individual usage.What I really want is sub-metering.I want to install some water meters and have somebody - maybe me - check on the usage each month and use that to divide up the bill.Potential issues:- Can I divide up the whole bill based on water usage, when the bill in fact includes water, garbage and sewer?

In the above example you're dividing the cashflow by 50%.Instead we should be taking the gross rents of 3900 X 50% = 1950 - principal/interest = net cash flow per monththe 50% is to account for prop mgmt, capx, utilities, repairs, and etc