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The ‘‘Rules of Thumb’’ 55 and net income in turn is a function of vacancy and expenses, Net Operating Income ¼ Gross Potential Income ÿ Vacancy ÿ Expenses ð3-15Þ leads us to simplify the difference between gross and net income as Net Operating Income ¼ Gross Potential Income (1 ÿ evrÞ ð3-16Þ where evr ¼ expense and vacancy rate (0 nguon tai.lieu . vn