Hello,

When you look at bigger deals financials, what line items do you always adjust?

To quickly evaluate a a deal where there is no asking price, I usually look at capex required, adjust the property taxes (based on comparable sales) and perhaps play around with the vacancy and reserves.

Is there anything I am missing?

You've got the big ones but sometimes I'll also adjust utilities or r&m if I think capital improvements completed as part of the transaction will impact those figures.

Nearly everything frankly - payroll, R&M, insurance, G&A. If they've not implemented any energy conservation then Utilities too.