1 rich Libsyn https://www.libsyn.com 90 600 The offering memorandum is a marketing document. Some of the numbers in it are wrong — and a few of them are deliberately wrong. In Part 2 of the Live Deal Analysis Workshop, Mark Kenney works through the questions most investors don’t know to ask: how to read occupancy without trusting it, what “free and clear” actually means, and why a single property tax line item can quietly cost you hundreds of thousands of dollars. In this episode you will learn: • Why sellers certify the rent roll at closing — and what you can actually do when occupied units turn out to be vacant • Why 95% occupancy is a signal to raise rents — not a ceiling — and the Fannie/Freddie 90/90 rule for agency financing • How to evaluate CapEx per door based on where money was spent — not just how much • What “free and clear” means in a listing, and how bogus mechanic’s liens work and how to bond around them • Why the pro forma property tax figure is almost always wrong — and the $280,000 real-world example that illustrates why it matters • How the cap rate multiplier turns a small property tax error into a massive valuation mistake This is Part 2 of a two-part series. Listen to Episode 144 first if you haven’t already. Join us at our next event at https://thinkmultifamily.com/event Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify. &amp;nbsp; Read the full podcast shownotes, timestamps, resources, and key insights from this episode here: Podcast Show Notes Think Multifamily Podcast https://thinkmultifamily.com <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/26676072/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/26676072