In this installment of the "So You Want to be a LIHTC Developer" series, Michael Novogradac, CPA, is joined by Novogradac partner Blair Kincer and Novogradac principal Kelly Gorman to discuss the annual Novogradac LIHTC operating expenses and income report. They discuss overall impressions from the report, which includes a survey of nearly 125,000 units financed by the low-income housing tax credit (LIHTC), then they look at factors for income in 2021, followed by a look at the increase in property insurance and repairs and maintenance expenses and the drop in payroll expenses in 2021.