You actually paid $25,200 to cover the negative cash flow over the 30 years, but I used $20,500 because it represents the time-discounted value (i.e., you paid this over 30 years, not at the start). This amount may be conservative, because over time I anticipate that the rent you charge may increase faster than the expenses, so eventually the monthly negative cash flow may disappear. APARTMENT NEGATIVE CASH FLOW OVER THE YEARS
by Ernesto R. Martin