True/False:

Small income properties are bought and sold only for their tangible amenities

Gross income multipliers normally increase with a decrease in the operating expense ratio.  

Rent for the manager's unit should be included in the rent forecast

Income capitalization converts income to its value equivalent

Positive leverage results from an equity investment in a property that is earning a greater return than the cost tithe loan money.

Reversionary returns from an investment do not include equity build-up from loan pay-off

The overall capitalization rate theoretically allows for a return on the investment, without any recapture

The equity residual technique analyzes the cash flow, rather than the net operating income from an investment

Direct capitalization is usually the most reliable technique of income capitalization.