The Investment Analysis Narrative

Write the narrative for an investment property analysis.

MY FIGURES (use only these):
Purchase price: [AMOUNT]
Estimated rehab: [AMOUNT]
Projected rent: [AMOUNT] — basis: [COMPARABLES I SUPPLIED]
Operating expenses: [ITEMISED]
Financing assumptions: [TERMS]
Cap rate, cash-on-cash, DSCR: [FIGURES I CALCULATED]
Exit assumptions: [DESCRIBE]

Audience: [INVESTOR CLIENT / PARTNER / LENDER]

Produce:
1. The deal summary in five sentences
2. The income and expense picture in plain terms
3. The return metrics explained, not just stated
4. Sensitivity: what happens if rent is 10% lower, if rehab is 20%
   over, if it sits vacant for two months — using my figures
5. The three biggest risks in this deal
6. What would make this a no

Rules:
- Do not calculate anything I have not supplied; if a metric is
  missing, mark [FIGURE REQUIRED]
- Do not add market assumptions
- Do not make projections beyond my stated assumptions
- This is analysis, not investment advice — frame it as such