Even when they show a T-12 performance, many brokers make "adjustments" for this or that.  

My investment objective for rental properties is cash flow (and not so much appreciation).In terms of understanding total annualized ROI for a rental property (assuming I already bought it and have been renting it out for some time), my understanding of Total ROI is the following:Total ROI = (Net Selling Price + Total Cash Flow) / (Total Investment Amount), with Total Investment Amount and Total Cash Flow adjusted for inflation.I would then annualize the Total ROI figure by performing the following: Annualized Total ROI = (1 + Total ROI) ^ (1/(Years Held)) - 1Now, assuming that I'm running numbers PRIOR to purchasing a rental property, I've been reading a lot about IRR.

Make sure you also have a lease (easy to download and make yoir own adjustments).

@Percy MatsunagaTrump has signed an executive order to add an inflation adjustment to the cap gains. 

It is interest only for 10 years with an adjustable rate. 

At the core all investments are just a series of cash flows with each needing some form of risk adjustment via a discount factor. 

The seller is not going to adjust his price because he has 100% equity.

Usually you make an offer contingent upon a few conditions & then make price and term adjustments as part of the negotiation. 

Colleges need to adjust their curriculum, and maybe they already have, but there needs to be a focus on how to become a "businessman/women".

I had a bit of an adjustment when I bought my first one, deal analysis, financing, purchase process, and due diligence were all a little different from SFH.Overall, I’ve been happy with my decision to invest in multifamily and going out of state does have a little more risk, but that can be mitigated with solid relationships.