We will provide an introduction to the valuation of income properties and explain the basic measures such as Cap Rate and Return on Equity (Cash on Cash). Identify how to use photographs to illustrate factors that influence land values. Understand how to analyze and make adjustments to create a realistic Income & Expense Statement. Recognize the issues and dangers of cap rate use. Understand the difficulty in valuing land and the dangers of using simplistic approaches to determine land value. The speaker will also explain the Back Door and Land Residual approaches.