If you take gross income and deduct operating expenses, what do you get?

Net Operating Income (NOI) is the income remaining after deducting operating expenses from the property’s operating income. In appraisal (income approach) and investment analysis, the standard relationships are:

Potential Gross Income (PGI) = income at full occupancy (before vacancies and collection loss).

Effective Gross Income (EGI) = PGI minus vacancy/collection loss plus other income.