CASH FLOW ANALYSIS

Property Address: 219 Sunset Avenue, Suite 101B Dallas, Texas 75208
Date: Novermber 20, 2007

Year-To-Date Year End Year End

Jan.-July 2007 2006 2005
REVENUES
Rent $ 128,508.00 $ 212,881.00 $ 195,716.00
Other Income $ - $ - $ -
Total Revenues $128,508.00 $ 212,881.00 $ 195,716.00

EXPENSES
Mgt Fees Offsite Manager $ 3,179.00 $ 320.00 $ -
Rents $ 6.00 $ - $ -
Advertising & Marketing $ - $ - $ 300.00
Legal & Audit $ - $ 1,685.00 $ 3,810.00
Consulting/Commision $ - $ 1,000.00 $ 2,891.00
Auto Travel $ - $ 92.00 $ 4,417.00
Total Mgt/Admin Expense: $ 3,185.00 $ 3,097.00 $ 11,418.00

Tax and License $ - $ - $ -

Property Taxes $ 10,657.00 $ 18,269.00 $ 20,301.00
Total Tax/License Expense: $ 10,657.00 $ 18,269.00 $ 20,301.00

Property Insurance $ 4,700.00 $ 3,764.00 $ 5,982.00

Other Insurance $ - $ - $ -
Total Insurance Expense: $ 4,700.00 $ 3,764.00 $ 5,982.00

Heating Energy $ - $ - $ -
Gas Other Than Fuel $ - $ - $ -
Electricity $ 17,722.00 $ 35,712.00 $ 37,000.00
Water & Sewer $ 284.00 $ 1,029.00 $ 1,000.00
Telephone & Communications $ 204.00 $ - $ -
Undetailed - Combined Utilities Expense $ 1,068.00 $ 961.00 $ 1,105.00
Total Utilities Expense $ 19,278.00 $ 37,702.00 $ 39,105.00

Master Association Fees $ - $ - $ -

Check inclusions:
Scavenger Parking / Drives
Snow Removal Reserves
Grounds .

Pest Control $ 877.00 $ 2,535.00 $ 1,672.00

Operating Supplies $ - $ 59.00 $ 1,147.00
Cleaning Services / Minor Maintenance $ 6,866.00 $ 21,418.00 $ 15,000.00
Miscellaneous $ - $ - $ 3,275.00
Grounds $ - $ - $ -
Other S & S $ - $ - $ -
Total Services & Supplies Expense $ 7,743.00 $ 24,012.00 $ 21,094.00

Maintenance Payroll $ - $ - $ -
Salaries and Wages $ - $ - $ -
Concession & Allowances
Indirect & Benefits / Payroll Taxes $ - $ - $ -
Total Payroll Expense: $ - $ - $ -

Interior Paint & Decorating $ - $ - $ -

General Repairs & Major Maintenance $ 10,988.00 $ 11,683.00 $ 24,798.00
Other Repairs & Maintenance $ - $ - $ -
Total Repairs / Maintenance Expense: $ 10,988.00 $ 11,683.00 $ 24,798.00

Total Expenses (before Non - Op): $ 56,551.00 $ 98,527.00 $ 122,698.00

Reserve For Replacement $ - $ - $ -

Total Reserve Allowances: $ - $ - $ -

Interest Expense $ 14,435.00 $ 26,074.00 $ 36,001.00

Depreciation $ 8,412.00 $ 17,056.00 $ 19,757.00

Total Non-Operating Expense: $ 22,847.00 $ 43,130.00 $ 55,758.00

Net Operating Income (Total Revenues

$ 71,957.00 $ 71,224.00 $ 17,260.00
minus Total Expenses)
Annual Debt Service (Principal &
$ 47,439.00 $ 55,272.00 $ 55,272.00
Interest x 12 months)

Debt Coverage Ratio (Net Operating Income * *

2.00 2.07 1.32
Income+Int+Depr / Annual Debt Service)

Figures Based on Following Information

Monthly D/S: $ 6,777.00 *The 2006 and 2005 Debt Coverage Ratio is based on his current loan payment.
Loan Amount: $ 720,000.00
Apprraisal Value: $ 960,000.00
Rate: 775%
Term: 15 years