2. What is your anticipated annual Rental Revenue? Your property has 12 units: Units #1 - 4 rent for $1,300 per month Unit #5 rents for $1,200 per month; in month ten the rent will increase to $1,350 Units #6 - #9 rent for $1,450 per month Unit # 10 is vacant. Its rental value is $1,400 per month Unit # 11 rents for $1,350 per month, but will go vacant a the end of month nine. Its rental value at such time is estimated to be $1,450 per month Unit # 12 rents for $1,375 per month You estimate Vacancy and Bad Debt (combined) loss of 4%. You do not use concessions, have no Non-Rev units, and no Other Income