Five risk findings sit on the left, each with the evidence behind it, and five pro forma lines sit on the right. At first every pair is separated by a dashed line and a cross, and the state reads Disconnected. Then the wires close one at a time and each assumption revises, with the original figure kept beside the new one: deferred HVAC risk, from the risk memo, raises the CapEx reserve from $250 to $1,453 per unit per year, 5.8 times; new supply delivering, 1,240 units, raises stabilized vacancy from 5.0% to 7.5%, plus 250 basis points; maintenance complaints, from tenant reviews, raise R&M expense from $1,900 to $2,420 per unit per year, plus 27%; comp and rent evidence, 38 comps, cuts rent growth from 3.0% to 1.8% over the year one to five CAGR, minus 120 basis points; and insurance and tax exposure, from public records, raises expense growth from 2.0% to 5.5%, plus 350 basis points. The state then reads Wired.