Pete’s park lessons · Lesson 10 of 15

What Is a T-12? Books and Rent Roll a Buyer Will Trust

A T-12 is a trailing-twelve-month profit and loss: twelve columns, one per month, ending with your last closed month.
Buyers line up your rent roll against the T-12 and your bank deposits. Unproven income counts as zero.
Put site rent, utility recovery, laundry, and propane each on their own line. Never fold utilities into rent.
Record deposits as money you owe back, not income. Make an add-back list with receipts, with your CPA.
Write down the hours you and your family put in, and reconcile every month. Twelve months of good habits beat one big cleanup.

Video coming soon. The full Pete video for this lesson is still in production.

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