Property Management
In South Dakota, an 'operating budget' prepared by a property manager for an investment property should include:
AOnly the property's mortgage payments
BAll anticipated income and expenses for the property over the budget period, excluding debt service✓ Correct
COnly maintenance and repair costs
DThe property manager's personal overhead costs
Explanation
An operating budget for an investment property should include all anticipated income (rent, parking, laundry, etc.) and all operating expenses (taxes, insurance, maintenance, utilities, management fees, etc.) for the budget period. Mortgage payments (debt service) are typically shown separately.
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