Cash flow

It is the annual flow constituted by the difference between all the income generated by a building: rents, advertising space rentals, financial income from security deposits all expenses including income taxes, possible loan repayments, loan interest or financial costs.
Cash-flow = net income - expenses relating to the property and the owner (IR, financing, equity or loan, depreciation).
Unlike net income, cash flow is more of an analysis than a valuation basis.