Buy	2012	2013	2014	Sell	Total
Before Tax Cash Flow Projection
Investment and Sale	$0	$0	$0	$0	$0	$0
Effective Income	$0	$824,380	$1,926,060	$201,160	$0	$2,951,600
Operating Expense	$0	($2,125,919)	($44,391)	$0	$0	($2,170,310)
Cash Flow Before Debt	$0	($1,301,539)	$1,881,669	$201,160	$0	$781,290
Debt Service	$0	$1,040,021	($1,167,640)	$0	$0	($127,619)
Cash Flow Before Tax	$0	($261,518)	$714,029	$201,160	$0	$653,671
Rate of Return Before Debt (IRR) 38.9% Rate of Return Before Tax (IRR) 87.7% Net Present Value Before Debt @10% 509,562 Net Present Value Before Tax @10% 504,477