INCOME AND EXPENSES

January 1, 2005 to December 31, 2005

2566 Argyll Ave., Concord

INCOME:   Rental Income                                                           $44,820 Other Income                                                                       0 Total Scheduled Gross Income                              $44,820   EXPENSES:   Property Taxes                                              $ 8,320 Annual Insurance                                           $ 1,625 Maintenance/Landscaping                              $ 1,400 Management Expense                                    $        0 Pacific Gas & Electric                                    $      92* Water                                                            $    343* Garbage/Trash Removal                                $ 1,060 Total Operating Expenses                          $12,840   Vacancy factor (5% of Scheduled Gross)   -$ 2,241   NET OPERATING INCOME                               $29,739      *All units are separately metered for gas, electric and water!!