The value of an apartment building is being determined by the income approach. Under which of the following circumstances would the appraiser make a deduction from effective gross income for the cost of management:
A: The owner manages the property;
B: One of the tenants manages the property and is excused from making rent payments for his unit;
C: One of the tenants who lives in a nearby building owned by the owner manages both properties, free of cost to the owner;
D: All of the above.
Answer: D: All of the above.
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Portland Antique Weaponry is owned and operated by a craftsman who makes replicas of historic firearms for museums, sportsmen, and collectors
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