Apartment Newbie

While determining NOI how do I (what doc’s do I ask for) verify the numbers such as maintenance cost.


Reqeust a copy of the schedule E which will show the deductions taken for the various items. This will show you what the owner told the IRS he spent which may or may not be the same as what he will verbally tell you.

You can also get a copy of the income and expense statements. We don’t always lend off the tax returns. The trailing 12 months of operating history should be sufficient.