Real Estate Math
A Minnesota landlord owns 8 units averaging $1,100/month rent. If 2 units are vacant, what is the annual EGI (effective gross income)?
A$79,200✓ Correct
B$105,600
C$84,480
D$92,400
Explanation
Potential Gross Income = 8 units x $1,100 x 12 months = $105,600. Vacancy loss = 2 units x $1,100 x 12 = $26,400.
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