Go to Airbnb and search for 1, 2, 3, 4, 5 bedrooms and run a little spreadsheet subtracting to find out how many of each there are. 

After subtracting closing costs and paying off the remaining loan balance, I get a profit of: 563,000 - 42,000 - 397,000 = $124,000.

Then subtract all operating expenses such as taxes, insurance, maintenance, property management fees, and vacancy rates to determine your Net Operating Income (NOI).2.

Selling and cash out refinance have different costs and different net $ in my pocket Ok well its your spreadsheet you  can do it anyway you want.. when we do ours.. we takeARV subtract 10% of gross for sales costs  and then deduct basis which is all cost associated with the property from PP  rehab and loan fees escrow etc.. and that gives us equity or at least a realistic equity instead of a feel good equity :)..

My setup is:All units separately meteredElectric-only (no gas)Tenants would pay their own electricI’d likely cover water/sewer since Philly usually keeps it in the landlord’s nameI know PHA subtracts utility allowances before approving the rent, but I’m trying to get a real-world sense of:Are you able to get close to that $1,830 cap in practice?

If the rehab is already part of the ARV why subtract it again?

Subtract 5% of the gross income for cap ex (39,600*0.05 = 1,980).

So it is a value subtract

.✅ Understand How Rental Income is Calculated–When underwriting a full doc loan, lenders analyze rental income differently depending on whether it appears on Schedule E of a personal tax returnor Form 8825 on a business tax return: Schedule E (Personal Tax Return): Underwriters will calculate net rental income by using Fannie Mae Form 1038, which can be found here: https://www.dochub.com/fillable-form/14282-fannie-mae-rental-income-worksheet, by taking the total rental income reported, subtracting the total expenses, adding back allowable deductions (such as depreciation & mortgage interest).

They ask you to use buildium to look at everything, but buildium doesn’t give you an easy to follow way to see subtractions from repairs or marketing fees that they charge.