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Novice Operator: Does my Profit and Loss statement look healthy to you?

Our 2022 P&L statement so far: https://imgur.com/a/KIVB1pZ

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I recently inherited control over my family's real estate company, and am a complete novice.

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I wanted to share what our profit and loss statement looks like and see if I could get feedback on it from experienced operators, especially on the expenses. I have no idea if I'm overpaying for anything, or if I'm organizing things in a suboptimal way.

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Does this look like a healthy P&L statement? If not, what looks wrong/stands out to you? Again, I'm a novice so I have no idea if I'm overpaying for anything....

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I thought it might be interesting to share real numbers, so thank you in advance for any feedback/advice you might have!

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Relevant Info:

  • We have 3 properties, 2 in PA and 1 in NY:
    • 23 unit apartment building @ 95% occupancy
    • A ski chalet in NY that's rented through the ski resort office
    • 50,000 sq ft manufacturing facility (my cousin runs his business out of it, so we don't charge much as we could)

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  • The 'other income' is from a billboard on our property

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  • The unapplied cash payment item is because I screwed up setting up our invoices. I've fixed it going forward but don't think I can retroactively undo the ones from earlier this year without screwing up the books completely.
submitted by /u/johnnyjfrank
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/xrxldp/novice_operator_does_my_profit_and_loss_statement/
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