Rental Property Cash Flow Analysis

About this course

Move beyond rules of thumb. This course walks through a complete rental underwriting model, including vacancy and capital expenditure reserves, debt service coverage, cash-on-cash return and sensitivity analysis on rent and interest rates.

What you will learn

• Build a pro forma from gross scheduled rent to cash flow
• Budget vacancy, maintenance and CapEx reserves
• Calculate DSCR, cap rate and cash-on-cash return
• Run sensitivity tables on rent, rate and expenses

1. Module 1

   Introduction

   3 lessons
   • Welcome to Rental Property Cash Flow AnalysisVideo · 10 min · Free preview
   • Course Roadmap and Completion RequirementsWritten lesson · 7 min · Free preview
   • How to Get the Most from This CourseWritten lesson · 7 min

2. Module 2

   Core Principles

   4 lessons
   • The Four Sources of Real Estate ReturnVideo · 10 min
   • Net Operating Income and Cap RateWritten lesson · 7 min
   • Cash-on-Cash Return and DSCRVideo · 10 min
   • Knowledge CheckQuiz · 4 min

3. Module 3

   Deal Structure

   3 lessons
   • Choosing a Financing StructureVideo · 10 min
   • Down Payment, Reserves and LeverageWritten lesson · 7 min
   • Ownership Entities and TitleVideo · 10 min

4. Module 4

   Financial Analysis

   3 lessons
   • Building a Pro FormaVideo · 10 min
   • Estimating Expenses RealisticallyWritten lesson · 7 min
   • Valuation with Comparable Sales and IncomeVideo · 10 min

5. Module 5

   Risk Management

   2 lessons
   • Identifying Property-Level RisksVideo · 10 min
   • Market and Liquidity RiskWritten lesson · 7 min

6. Module 6

   Real-World Examples

   2 lessons
   • Example: A Single-Family Rental UnderwrittenVideo · 10 min
   • Example: When the Numbers Look Too GoodWritten lesson · 7 min

7. Module 7

   Case Study

   2 lessons
   • Case Study: The Midwest DuplexCase study · 11 min
   • Case Study Debrief: What the Numbers MissedWritten lesson · 7 min

8. Module 8

   Final Assessment

   2 lessons
   • Final AssessmentQuiz · 4 min
   • Applied AssignmentAssignment · 8 min

Downloads included

• Rental Property CalculatorXLSX · included with the course

Member reviews

• “Changed how I evaluate every deal I look at.”

  KHKeisha Hayward · Jul 22, 2026
• “Exactly the level of depth I was looking for. The downloadable tools are excellent.”

  SPSydney Patel · Jun 2, 2026
• “Very well organized. The case study was the highlight.”

  LRLeon Rosenberg · May 13, 2026
• “Professional, concise and free of hype. Recommended for any member.”

  CNCasey Novak · Mar 30, 2026