This chapter provides a pro forma model for 'N' units multifamily with three sheets: Summary Inputs, Amortization (Debt), and Pro Forma. As such, the pro forma is separated into a functional unit that is Rent Roll to accommodate 'N' units and increased complexity when modelling unit cash flows. The Inputs section, specifically the top half of the Operations section, is modified to be a summary of unit characteristics rather than inputs. So a separate sheet is added to accommodate the Rent Roll for 'N' units. This sheet is aptly titled 'Unit Characteristics' but could also be titled 'Rent Roll'. Once the Unit Characteristics page is constructed and integrated within the pro forma, the valuation section will be moved from the Summary Inputs page to the Pro Forma page and modified to discount/value on a monthly basis rather than an annual basis, as was done on the summary page.