that's $540 million. The homes in inventory are getting older and appliances/HVAC will need to be replaced. They maintenance guys in Vegas are telling me that they've been deferring these expenses but not for much longer.
the AMH management is now desperate. Net income from continuing operations tops $100 mil this year (FY 2016), the sh&^*& will hit the fan. Interest expense will exceed $100 mil and Net Income will be negative $100 mil. As interest rates climb, AMH's leveraged debt load will increasingly hurt more. AMH's unsustainable business model became apparent to me in July 2014. AMH is a shorty here. Please do your own research.