One of the biggest mindset shifts for me moving from single-family to multifamily was realizing that cash flow and taxable income are two very different things.

Depreciation and other non-cash expenses can significantly change how income is treated for tax purposes, especially in larger properties.

I recently put together a short video walking through this visually using a multifamily case study, in case it’s helpful for others who think better with examples:  https://www.facebook.com/share/v/1FwE9RA4Pj/

Curious how others here explain this concept to newer investors.