Simple investment measures used at the outset of investment analysis are:

The lender's credit underwriting is based on:

Many of the terms in the above equations have common elements. For instance, NOI is common to both CR and DCR, Loan Payment is part of the Cash Flow calculation. Cash Flow is NOI (dollars available to "cover" the debt) less the loan payment. Common terms in the equations allow us to rearrange and combine terms in ways that permit us to look more closely at the process and the relationship between the variables.