A cleaning company priced at $395K claimed $125K in cash flow.

But: ❌ Owner cleaned homes and coordinated all clients
❌ Staff were paid cash + misclassified as 1099s
❌ Addbacks included vehicle gas, personal vacation, and rent
❌ No customer tracking or CRM—jobs booked via text

✅ Adjusted FCF: ~$45K
✅ Final valuation: ~$210K after labor and admin normalization

📌 The lender avoided a dirty deal by digging into operations.