Reconstructed Income & Expense Statement for Apartments

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

When restructuring rental income, what sources should be consulted to determine market rental rates?

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1. When restructuring a principal and interest (P&I), why is it important to consider vacancy rate?

2. When restructuring a seller's principal and interest (P&I), why would the numbers reflect below-market rental income?

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About This Quiz & Worksheet

This tool will check what you know about income and expense statements for when you're reconstructing an apartment. The questions ask you about sources, rates to consider, laws and other things related to reconstructing these statements.

Quiz & Worksheet Goals

Recall what you know about:

  • The importance of a current mortgage finance quote for P&I payment amounts
  • Why P&Is reflect below market rental income
  • How to consult tax ordinances and statutes when restructuring carrying costs on a sellers mortgage
  • Sources to consult when determining market rental rates
  • Why you should consider vacancy rate when restructuring P&I

Skills Practiced

  • Interpreting information - verify that you can read information regarding current mortgage finance quotes and interpret it correctly
  • Information recall - access the knowledge you've gained regarding sources to use when calculating market rental rates
  • Knowledge application - use your knowledge to answer questions about P&Is and considerations

Additional Learning

Review this topic and learn more with the accompanying lesson to this quiz and worksheet, Reconstructed Income & Expense Statement for Apartments. You'll be able to read about:

  • How collection losses affect reconstructed income and expense statements
  • Examples of restructures operating expenses
  • The definition of reconstruct in regards to the topic
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