Financial Analysis of Income Real Property Investments. Examines three critical areas, using the DCF, Discount Cash Flow method, and proprietary formulas 1. Cash: A Cash Flow, an amount of total cash realized, less all cash expenses, except income taxes. B. Cash on Cash, the ratio of annual, before tax cash flow (BTCF) to all invested cash. 2. Effect of Tax: An amount which the investment effects, the taxes in a current year. 3. Forecasted Benefits: A projection of capital realized on after-taxes, that account for mortgage amortization and increases or decreases of the subject property value over a certain passage of time.