In dumbed down terms: Your actual gain/(loss) on the sale after everything has been taken out?? (e.g., disposition costs, captial gains tax, and remaining amount you owe on mortgage) Is this correct? Simple concept I think, but worded funny.
also recaptured deprectiation is part of the tax, but yes. it;s the “profit” you make from the sale in the final year. remember to also add the final year’s CFAT to the ERAT in the final year when calculating npv of the investment
Just started this section… can you expand your abbreviations? 
CFAT = cash flows after tax = cash flows from your investment each year = NOI - debt service - taxes taxes = (NOI - dep - int) x tax rate ERAT = selling price - selling costs - mortgage balance - taxes on sale taxes on sale = capital gains taxes + recaptured depreciation tax see reading 46 for more, hope that helps
ohh ok thats what i figured… I have been writing it “ATER” not “ERAT” and “ATCF” instead of “CFAT” Anagrams galore haha. Thanks!