Does the Operating Income need to be included in the 1025 form by USAP Standards?

[Midwest Guy]

USPAP 1-4 (c) (iv)

Not an USPAP issue.

 

[Em Tee]

We've NEVER been asked to provide rental photos, but if your client requires them, I guess it's part of your SOW and you're SOL.

 

[Manuel Rondon]

Thank you guys. Next time, I'll re-confirm the order with the lender, so we can be in the same page. Thanks again.

 

[Truett Neathery]

1025

I got a call today. This mb stated that I was REQUIRED to include a 216 to the 1025. I know it makes sence for a 216 to be included in the multifamily report, but then, why it is not included in the 1025 in the 1st place? Just like the rent schedule. He also said that I was required to include the rental photos in the 1025 report. I never had this situation before. I was hoping for some help. Should I charge extra for the 216? or is it included?

I always ask for what forms they want and what photos. If out of the ordinary, appraisal fee is more! Or, work for free.
TN