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In this solo episode of Multi-Family Real Estate Investing by Mara Poling, Lauren Torres takes us beyond the pro-forma headline and breaks down what actually drives an asset’s cash flow. 

From revenue assumptions and vacancy to operating expenses, debt service, capital expenditures, and reserves, we walk through what must be forecasted — and what too many asset managers overlook. 

In a 2026 market where discipline matters, understanding cash flow at the asset level isn’t optional, it's necessary.