their in-outthe propert the rected forl vconsider the projection of the reversion value in a multiyear DCF valuation

1 what should be the typical expected relationship between the going-in cap rate and the going- out (resersion or terminal value) cap rate projected for the resale of the property at the end of the expected holding period ( i.e., should you usually expect the going-out to be less than, equal to, or grater than the going in?

2. why

3. how is your answer related to projected captial impovement expenditures during the holding period?

4 how is your answer related to the state of the property market at the time of purchase of the property at the beginning of the holding period ( factors that affect the going- in rate)?