1. An investor purchased a small property with an equity investment of $100,000 and an $800,000 mortgage. She has held the property for five years, and the mortgage now has a balance of $750,000. The market value of her property is estimated to be $950,000. What is her current equity investment in the property?

2. What factors can change after rehabilitation of a property to produce a higher "after" rehabilitation value than "before" value?

3. Define deferred maintenance and list some examples.

4. How is the financial compensation for property managers usually determined? What "agency" problem does this seem to create?

5.With respect to complying with applicable landlord-tenant laws, is it easier to manage an apartment complex or an office building? Explain.