United States

Securities And Exchange Commission

Washington, D.C. 20549

FORM 1-SA

SEMIANNUAL REPORT PURSUANT TO REGULATION A

For the fiscal semiannual period ended

June 30, 2025

ARRIVED HOMES, LLC

(Exact name of issuer as specified in its Certificate of Formation)

Delaware	85-2046587
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1700 Westlake Avenue North, Suite 200

Seattle, WA 98109

(Full mailing address of principal executive offices)

814-277-4833

(Issuer’s telephone number)

TABLE OF CONTENTS

ITEM 1. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION	1
ITEM 2. OTHER INFORMATION	23
ITEM 3. FINANCIAL STATEMENTS	F-1
ITEM 4. EXHIBITS	24

i 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information contained in this Semiannual Report on Form 1-SA (this “Form 1-SA”) includes some statements that are not historical and that are considered “forward-looking statements.” Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company, the manager, each series of our company and the Arrived Homes platform (defined below); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations). These forward-looking statements express the manager’s expectations, hopes, beliefs, and intentions regarding the future. In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  The words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Form 1-SA are based on current expectations and beliefs concerning future developments that are difficult to predict. Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties. These risks and uncertainties, along with others, are detailed under the headings “Summary – Summary Risk Factors” and “Risk Factors” in our latest offering circular (the “Offering Circular”) filed by the company with the Securities and Exchange Commission (the “Commission”), which may be accessed here and may be amended, and in our subsequent reports and offering statements filed from time to time with the Commission. Should one or more of these risks or uncertainties materialize, or should any of the parties’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

ii 

ITEM 1. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

Overview

Arrived Homes, LLC, a Delaware series limited liability company, was formed in July 2020 to permit public investment in individual residential properties. We believe people should have access to the wealth creation that real estate investment can provide. We believe in passive income, conservative debt, diversification, and aligned incentives.

Arrived is a marketplace for investing in real estate. We buy residential properties, divide them into multiple interests, and offer them as investments on a per interest basis through our web-based platform. Investors can manage their risk by spreading their investments across a portfolio of homes and they can invest in real estate without needing to apply for mortgages or take on personal debt.

Arrived does all of the work of sourcing, analyzing, maintaining, and managing all of the residential properties that we acquire. We analyze every property investment across several financial, market, and demographic characteristics to support our acquisition decision-making. Every investment we make is an investment in the communities in which Arrived operates, alongside other like-minded individuals. As our community network grows, so does our access to investment and housing opportunities.

Arrived arranges for a property manager to operate the properties as single-family rentals for tenants who can also invest through the same process as any other member of the Arrived Platform, becoming part owners of the homes they’re staying in at that time. By investing together, we align incentives towards creating value for everyone.

Since its formation in July 2020, our company has been engaged primarily in acquiring properties for its series offerings, developing the financial, offering and other materials to facilitate fundraising, and taking the steps necessary to effectuate the series offerings and the management of the associated series properties. As of June 30, 2025, our company has acquired 241 properties.

Risk Factors

We face risks and uncertainties that could affect us and our business as well as the real estate industry generally. These risks are outlined under the heading “Risk Factors” beginning on page 1 in our Offering Circular which may be accessed here, as the same may be updated from time to time by our future filings under Regulation A (“Regulation A”) of the Securities Act of 1933 (the “Securities Act”). In addition, new risks may emerge at any time and we cannot predict such risks or estimate the extent to which they may affect our financial performance. Th ese risks could result in a decrease in the value of the membership interests in each of the series of our company.

Emerging Growth Company

We may elect to become a public reporting company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). If we elect to do so, we will be required to publicly report on an ongoing basis as an emerging growth company, as defined in the JOBS Act, under the reporting rules set forth under the Exchange Act. For so long as we remain an emerging growth company, we may take advantage of certain exemptions from various reporting requirements that are applicable to other Exchange Act reporting companies that are not emerging growth companies, including, but not limited to:

● not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act;

● being permitted to comply with reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and

● being exempt from the requirement to hold a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

1

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We would expect to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We would expect to take advantage of these reporting exemptions until we are no longer an emerging growth company. We would remain an emerging growth company for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1.07 billion; (ii) the date that we become a large accelerated filer as defined in Rule 12b-2 under the Exchange Act, which would occur if the market value of our common shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

Distributions

In order to qualify as a REIT, a series must distribute annually to investors at least 90% of its REIT taxable income (computed without regard to the dividends paid deduction and excluding net capital gain), and to avoid federal income and excise taxes on retained taxable income and gains it must distribute 100% of such income and gains annually. Our manager may authorize distributions in excess of those required for us to maintain our REIT status and/or avoid such taxes on retained taxable income and gains depending on our financial condition and such other factors as our manager deems relevant.

Our company expects the manager to make distributions of any free cash flow on a monthly or other periodic basis as determined by the manager. However, the manager may change the timing of distributions in its sole discretion. Investors will be required to update their personal information on a regular basis to make sure they receive all allocated distributions. We will utilize a “mobile wallet” feature for payment of distributions (the “Arrived Homes Wallet”). The Arrived Homes Wallet will be used to allow investors to pay for subscriptions, receive distributions and reinvest distributions.

Any distributions that we make directly impacts the NAV for each of our series, by reducing the amount of our assets. Our goal is to provide a reasonably predictable and stable level of current income, through monthly or other periodic distributions, while at the same time maintaining a fair level of consistency in our NAV for each series. Over the course of your investment, your distributions plus the change in NAV per interest (either positive or negative) will produce your total return.

Critical Accounting Policies

Our accounting policies will conform with GAAP. The preparation of financial statements in conformity with GAAP will require us to use judgment in the application of accounting policies, including making estimates and assumptions. These judgments may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. We intend to make these estimates and assumptions in an appropriate manner and in a way that accurately reflects our financial condition. We will continually test and evaluate our estimates and assumptions using our historical knowledge of the business, as well as other factors, to ensure that they are reasonable for reporting purposes. However, actual results may differ from our estimates and assumptions.

We believe our critical accounting policies govern the significant judgments and estimates used in the preparation of our financial statements. Please refer to Note 2, Summary of Significant Accounting Policies, included in the financial statements, for a more thorough discussion of our accounting policies and procedures.

2

Operating Results

Revenues

Revenues are generated at the series level and are derived from leases on the series property. All revenues generated during the six months ended June 30, 2025 and 2024 are listed in the table below:

RENTAL REVENUE
Series	June 30, 2025		June 30, 2024
100	$	13,991	$	17,600
101		18,570		18,714
Abbington		16,110		15,720
Abernant		9,420		7,144
Alvin		13,920		13,920
Amber		11,897		10,200
Apollo		6,735		8,465
Aster		9,720		9,420
Augusta		11,970		11,970
Avebury		11,010		8,450
Avondale		11,970		11,025
Badminton		13,235		12,890
Ballinger		12,570		9,848
Bandelier		12,120		12,328
Baron		18,720		14,475
Basil		9,723		9,420
Bayside		13,175		12,815
Bazzel		11,070		10,791
Bedford		13,920		7,727
Bella		11,820		11,670
Belle		15,894		15,894
Belvedere		13,770		13,770
Bergenia		9,720		9,720
Blossom		9,720		8,897
Bonneau		14,280		13,770
Brainerd		14,070		12,870
Braxton		11,340		10,920
Brennan		9,520		8,266
Briarwood		9,270		7,365
Brooklyn		5,386		7,224
Burlington		20,070		20,446
Butter		17,044		11,618
Calvin		13,265		10,770
Camino		9,840		9,605
Cawley		11,634		13,170
Centennial *		-		12,420
Chaparral		10,170		8,483
Chelsea		11,850		11,620
Chester		14,070		13,320
Chickamauga		13,920		13,920
Chinook		11,970		11,970
Chitwood		14,550		14,070
Clover		7,424		12,253
Coatbridge		12,570		12,220
Collier		13,860		13,320
Collinston		9,570		6,712
Conway		20,520		14,572
Cove		10,170		1,030
Creekside		11,775		11,520
Creekwood		11,100		10,770
Cumberland		10,170		10,170
Cupcake		9,919		8,830

3

RENTAL REVENUE
Series	June 30, 2025		June 30, 2024
Cypress		15,240		14,790
Daisy		10,350		10,170
Davidson		8,970		9,570
Dawson		10,800		10,470
Delta		13,170		4,481
Dewberry		8,868		9,811
Diablo		11,650		11,520
Dogwood		10,500		9,020
Dolittle		14,340		14,472
Dolly		21,530		14,223
Dops		11,196		8,275
Dorchester		10,880		13,170
Dunbar		3,623		13,615
Eagle		11,335		10,175
Eastfair		9,745		11,684
Eastwood		11,975		-
Elevation		9,924		8,030
Ella		10,770		10,770
Ellen		10,770		14,619
Elm		8,970		8,535
Emporia		7,306		14,720
Ensenada		20,070		10,023
Falcon		12,720		12,145
Felix		9,570		9,570
Fenwick		10,237		16,760
Fletcher		8,100		8,340
Folly		13,590		13,470
Forest		14,820		12,982
Foster		14,094		14,094
Franklin		12,870		12,870
Gardens		9,745		9,040
General		15,450		17,380
Goose		11,370		11,940
Grant		15,000		14,781
Greenhill		15,450		18,065
Gretal		12,695		14,370
Grove		9,240		9,005
Hadden		10,085		10,300
Hansard		12,461		13,200
Hansel		12,570		8,380
Hargrave		7,941		6,008
Harrison		16,920		16,920
Henry		14,680		5,873
Heritage		12,330		11,985
Heron		12,300		11,370
Highland		2,897		11,370
Hines		9,720		9,720
Hobbes		9,570		4,200
Holcomb		10,975		12,570
Holland		9,120		8,525
Hollandaise		11,370		6,603
Holloway		15,840		15,570
Inglewood		19,320		16,238
Irene		8,370		8,370
Jack		12,570		13,966

4

RENTAL REVENUE
Series	June 30, 2025		June 30, 2024
Jake		17,970		17,930
Jefferson		13,030		12,870
Jill		13,590		13,170
Johnny		20,965		16,775
June		16,320		19,920
Jupiter		9,450		6,641
Kawana		10,500		10,170
Kennesaw		15,400		15,741
Kenny		19,949		4,736
KerriAnn		11,933		6,585
Kessler		8,105		8,088
Kingsley		13,770		13,570
Kirkwood		3,010		9,570
Korin		12,390		11,970
Lallie		1,347		12,828
Lanier		11,620		12,134
Lannister		8,070		5,990
Latte		9,642		13,190
Lennox		10,927		10,675
Lierly		11,100		9,883
Lily		15,300		14,370
Limestone		12,796		7,019
Litton		13,920		12,954
Longwoods		11,970		11,970
Lookout		12,120		9,600
Loretta		12,405		19,595
Louis		11,370		11,370
Louise		11,833		12,515
Lovejoy		11,970		11,820
Luna		11,420		7,543
Lurleen		5,241		10,220
Madison		8,994		11,093
Mae		13,050		12,570
Magnolia		9,870		10,772
Malbec		13,770		13,770
Mammoth		12,870		3,501
Marcelo		10,590		10,320
Marie		15,270		14,970
Marietta		13,470		10,931
Marion		11,020		11,070
Marple		6,623		6,975
Martell		11,670		8,493
Mary		12,570		12,570
Matchingham		11,312		12,824
McGregor		11,790		10,188
McLovin		18,870		18,570
Meadow		11,850		10,880
Mimosa		10,615		8,620
Mojave		10,470		12,215

5

RENTAL REVENUE
Series	June 30, 2025		June 30, 2024
Murphy		12,120		9,450
Mycroft		8,520		8,520
Nugget		17,700		16,970
Odessa		17,670		17,670
Olive		11,520		11,405
Oly		17,970		14,084
Onyx		11,700		14,040
Oscar		9,387		6,272
Osceola		8,621		10,170
Osprey		14,310		14,070
Otoro		11,815		4,497
Palmer		11,535		9,412
Patrick		9,570		7,980
Peanut		8,700		7,930
Pearl		3,644		16,320
Pecan		9,552		8,875
Peterson		11,567		9,570
Piedmont		14,400		13,770
Pinot		14,370		14,814
Pioneer		19,320		13,080
Plumtree		9,990		8,325
Point		12,570		3,910
Porthos		13,770		13,770
Quincy		18,270		17,230
Redondo		13,470		13,470
Regency		7,727		13,710
Reginald		11,948		16,874
Reynolds		15,900		14,970
Ribbonwalk		10,476		12,690
Richardson		9,521		10,620
Richmond		13,770		16,170
Ridge		11,550		10,565
Ritter		14,970		11,643
River		12,356		14,465
Riverwalk		16,413		10,870
Rooney		12,570		11,826
Roseberry		14,433		14,370
Rosewood		11,490		9,800
Roxy		12,755		11,970
Saddlebred		17,083		15,145
Saint		13,685		13,045
Sajni		16,693		15,120
Salem		6,520		14,528
Salinas		10,600		10,320
Saturn		11,135		8,720
Scepter		8,241		11,038
Sequoyah		11,070		2,608
Shallowford		16,415		9,480
Shoreline		14,014		13,490
Sigma		14,250		13,686
Simon		10,175		12,570
Sims		11,070		11,070
Soapstone		11,400		12,525

6

RENTAL REVENUE
Series	June 30, 2025		June 30, 2024
Sodalis		7,206		10,650
Spencer		14,342		13,519
Splash		10,140		9,450
Spring		10,736		10,170
Stonebriar		8,640		8,370
Sugar		12,379		12,300
Summerset		11,718		11,615
Sundance		12,870		13,470
Sunnyside		9,720		8,348
Swift		13,170		13,532
Taylor		5,902		9,780
Terracotta		8,183		8,380
Theodore		12,020		10,100
Tulip		13,470		13,420
Tuscan		14,750		11,475
Tuscarora		13,210		14,520
Tuxford		11,902		7,868
Vernon		11,700		11,478
Walton		11,370		11,220
Wave		11,045		6,336
Weldon		9,217		8,625
Wellington		15,017		14,369
Wentworth		11,565		10,830
Wescott		9,720		9,720
Westchester		12,875		14,895
Wildwood		10,320		10,320
Willow		9,270		10,569
Wilson		13,650		13,320
Winchester		12,985		11,370
Windsor		13,074		13,970
Winston		10,815		10,770
Wisteria		12,870		11,808
	$	2,886,311	$	2,762,017

* Arrived Homes Series Centennial, a Series of Arrived Homes, LLC was divested on October 18, 2024.

7

Operating Expenses

The Company incurred the following operating expenses during the six months ended June 30, 2025 and 2024. The operating expenses incurred prior to the closing of an offering related to any of the series are being paid by our manager and are reimbursed by such series out of the gross offering proceeds upon closing of the relevant series offering. Such operating expenses include real estate taxes, property insurance, home ownership association fees and repairs and maintenance costs. Upon closing, each series becomes responsible for its own operating expenses.

The following table summarizes the total operating expenses by series as of June 30, 2025 and 2024:

OPERATIONAL EXPENSES
	June 30, 2025						June 30, 2024
Series	Operating expenses		Depreciation		Other Operating Expenses		Operating expenses		Depreciation		Total expenses
100	$	11,840	$	8,445	$	20,285	$	13,210	$	8,445	$	21,655
101		10,159		9,308		19,467		12,604		8,719		21,323
Abbington		8,895		7,247		16,142		10,091		7,247		17,338
Abernant		3,602		3,124		6,726		7,863		3,124		10,987
Alvin		4,917		4,368		9,285		8,165		4,368		12,532
Amber		5,252		4,208		9,460		6,412		4,208		10,619
Apollo		4,017		3,933		7,951		4,538		2,691		7,230
Aster		5,713		3,504		9,218		4,887		3,504		8,391
Augusta		5,893		4,075		9,968		5,102		4,075		9,177
Avebury		5,020		3,995		9,016		5,063		3,995		9,058
Avondale		5,877		4,523		10,400		8,281		4,523		12,805
Badminton		7,984		4,230		12,214		8,223		4,230		12,453
Ballinger		17,543		4,108		21,650		10,158		4,108		14,265
Bandelier		5,876		4,134		10,010		5,326		4,134		9,459
Baron		12,090		8,403		20,493		9,990		8,003		17,993
Basil		4,205		2,784		6,989		2,882		2,784		5,667
Bayside		8,914		3,525		12,439		8,956		3,525		12,481
Bazzel		8,551		3,763		12,314		7,913		3,763		11,676
Bedford		12,028		3,847		15,875		11,276		3,847		15,124
Bella		5,442		4,206		9,648		9,013		4,206		13,219
Belle		10,443		6,042		16,485		10,492		6,042		16,534
Belvedere		5,631		4,051		9,683		6,170		4,051		10,221
Bergenia		4,020		2,986		7,006		2,738		4,977		7,715
Blossom		4,230		3,495		7,725		8,490		3,495		11,985
Bonneau		10,683		5,137		15,820		7,598		5,137		12,735
Brainerd		5,613		3,998		9,612		5,437		3,998		9,435
Braxton		6,165		4,452		10,617		9,643		4,452		14,094
Brennan		10,324		3,115		13,439		17,008		3,115		20,123
Briarwood		3,926		2,866		6,793		5,397		2,866		8,264
Brooklyn		6,027		2,907		8,934		3,083		2,907		5,991
Burlington		10,909		8,916		19,825		11,964		8,916		20,880
Butter		10,491		5,190		15,680		15,746		5,190		20,936
Calvin		4,589		3,245		7,835		6,409		3,245		9,655
Camino		3,889		3,644		7,533		4,982		3,644		8,626
Cawley		10,434		4,312		14,746		6,245		4,312		10,557
Centennial *		-		-		-		4,780		3,917		8,697
Chaparral		5,385		2,700		8,085		5,344		2,700		8,043
Chelsea		4,540		4,234		8,774		4,669		4,234		8,903
Chester		7,746		5,095		12,841		7,602		5,095		12,697
Chickamauga		6,913		5,129		12,042		6,868		5,129		11,997
Chinook		6,275		4,952		11,227		6,972		4,952		11,924
Chitwood		7,233		5,255		12,488		7,291		5,255		12,546
Clover		11,027		4,397		15,423		14,204		4,397		18,601
Coatbridge		6,714		4,526		11,240		11,204		4,526		15,730
Collier		6,785		4,879		11,664		8,276		4,879		13,155
Collinston		7,070		2,906		9,976		11,630		2,906		14,535
Conway		11,984		9,438		21,422		14,979		9,438		24,416
Cove		8,587		2,890		11,477		5,726		2,890		8,616
Creekside		5,131		4,269		9,401		4,929		4,269		9,199
Creekwood		6,728		3,972		10,700		4,579		3,972		8,550
Cumberland		5,193		4,059		9,252		5,722		4,059		9,781
Cupcake		5,803		3,275		9,078		4,426		3,275		7,701

8

OPERATIONAL EXPENSES
	June 30, 2025						June 30, 2024
Series	Operating expenses		Depreciation		Other Operating Expenses		Operating expenses		Depreciation		Total expenses
Cypress		7,500		5,013		12,513		11,260		5,013		16,272
Daisy		4,267		4,138		8,405		4,182		4,138		8,320
Davidson		5,342		2,909		8,252		3,976		2,909		6,885
Dawson		6,804		3,617		10,421		11,402		3,617		15,019
Delta		12,742		5,526		18,268		18,214		4,966		23,181
Dewberry		6,461		2,613		9,074		7,658		2,613		10,271
Diablo		8,061		3,571		11,631		7,094		3,571		10,665
Dogwood		5,984		3,311		9,295		5,411		3,311		8,723
Dolittle		8,887		4,222		13,108		9,478		4,222		13,700
Dolly		9,875		9,475		19,350		15,802		9,475		25,278
Dops		2,543		2,809		5,352		4,828		2,809		7,636
Dorchester		21,197		4,835		26,032		8,076		4,727		12,803
Dunbar		16,168		6,591		22,759		10,053		5,811		15,865
Eagle		9,067		3,946		13,012		3,788		3,946		7,734
Eastfair		13,089		2,956		16,045		10,209		2,956		13,165
Eastwood		3,903		4,378		8,282		7,518		4,378		11,896
Elevation		6,428		5,056		11,484		12,138		5,056		17,194
Ella		7,068		3,587		10,655		5,794		3,587		9,381
Ellen		5,875		3,404		9,279		4,271		3,404		7,674
Elm		5,220		2,300		7,520		6,265		2,300		8,565
Emporia		20,710		4,833		25,543		7,584		4,833		12,417
Ensenada		11,605		6,666		18,271		14,081		6,666		20,747
Falcon		7,545		3,953		11,499		3,945		3,953		7,899
Felix		4,643		4,101		8,744		3,305		4,101		7,406
Fenwick		5,060		4,120		9,180		6,388		4,120		10,508
Fletcher		3,184		2,412		5,596		3,560		2,412		5,972
Folly		10,703		5,126		15,829		7,766		5,126		12,893
Forest		8,834		6,070		14,905		13,416		6,070		19,486
Foster		6,928		4,307		11,235		5,366		4,307		9,673
Franklin		8,281		4,623		12,904		9,802		4,623		14,425
Gardens		3,775		3,586		7,361		5,395		3,586		8,981
General		6,024		4,342		10,366		9,002		4,342		13,345
Goose		6,464		3,678		10,142		4,901		3,678		8,579
Grant		7,098		4,451		11,549		7,168		4,451		11,619
Greenhill		9,016		4,484		13,501		10,897		4,484		15,381
Gretal		7,808		6,206		14,014		8,131		6,206		14,337
Grove		6,534		4,401		10,935		5,780		4,401		10,182
Hadden		8,156		3,027		11,182		7,125		3,027		10,152
Hansard		10,967		4,170		15,137		6,162		4,170		10,331
Hansel		7,392		5,564		12,956		7,921		5,564		13,484
Hargrave		13,176		3,212		16,388		10,858		3,212		14,070
Harrison		8,253		6,296		14,548		8,563		6,296		14,859
Henry		10,205		5,912		16,117		24,161		5,912		30,073
Heritage		7,429		4,506		11,935		7,519		4,506		12,025
Heron		11,102		4,474		15,576		9,097		4,474		13,570
Highland		10,445		3,942		14,387		5,115		3,942		9,057
Hines		5,718		4,405		10,123		5,932		4,405		10,337
Hobbes		3,976		3,216		7,192		8,745		3,216		11,961
Holcomb		8,245		4,877		13,122		6,976		4,877		11,853
Holland		6,560		2,909		9,469		4,829		2,909		7,738
Hollandaise		6,584		5,028		11,612		20,171		5,028		25,199
Holloway		9,113		4,672		13,785		9,638		4,672		14,310
Inglewood		10,915		9,361		20,275		13,731		9,361		23,091

9

OPERATIONAL EXPENSES
	June 30, 2025						June 30, 2024
Series	Operating expenses		Depreciation		Other Operating Expenses		Operating expenses		Depreciation		Total expenses
Irene		3,190		2,412		5,602		2,545		2,412		4,957
Jack		7,243		6,377		13,620		6,165		6,377		12,542
Jake		12,944		8,093		21,037		11,162		8,093		19,255
Jefferson		5,359		3,777		9,137		4,839		3,777		8,616
Jill		5,551		5,492		11,042		6,396		5,492		11,888
Johnny		10,663		8,047		18,710		11,442		8,047		19,489
June		12,237		8,047		20,284		11,776		8,047		19,823
Jupiter		4,455		2,906		7,361		5,442		2,906		8,348
Kawana		4,419		3,786		8,205		5,213		3,786		8,999
Kennesaw		9,347		5,836		15,184		11,674		5,836		17,510
Kenny		9,191		9,475		18,666		13,638		9,475		23,114
KerriAnn		9,840		4,686		14,525		13,501		4,686		18,187
Kessler		7,976		4,106		12,082		6,563		4,106		10,669
Kingsley		9,560		4,290		13,850		12,112		4,290		16,402
Kirkwood		7,384		4,299		11,683		5,274		3,592		8,866
Korin		4,915		3,823		8,738		5,019		3,823		8,842
Lallie		18,469		6,202		24,671		13,685		6,202		19,887
Lanier		8,639		5,706		14,345		11,783		5,706		17,489
Lannister		4,080		3,027		7,106		3,922		3,027		6,948
Latte		18,656		5,011		23,667		7,559		5,011		12,570
Lennox		4,033		2,978		7,010		6,950		2,978		9,928
Lierly		4,886		2,932		7,818		6,067		2,932		8,999
Lily		14,927		7,493		22,419		7,946		7,493		15,439
Limestone		9,380		4,023		13,403		19,434		4,023		23,457
Litton		5,369		4,413		9,782		5,626		4,413		10,039
Longwoods		7,675		3,702		11,377		9,351		3,702		13,053
Lookout		6,945		4,741		11,687		7,499		4,741		12,241
Loretta		10,414		9,431		19,845		12,219		9,431		21,650
Louis		6,822		3,701		10,523		4,254		3,701		7,954
Louise		5,021		3,789		8,810		11,965		3,789		15,754
Lovejoy		6,576		4,044		10,620		7,412		4,044		11,456
Luna		6,525		2,956		9,481		8,820		2,956		11,776
Lurleen		8,476		4,048		12,524		5,475		2,141		7,616
Madison		4,684		2,828		7,512		5,668		2,828		8,496
Mae		8,157		4,864		13,021		6,102		4,864		10,966
Magnolia		6,240		4,154		10,394		5,882		4,154		10,036
Malbec		6,913		4,388		11,301		8,191		4,388		12,579
Mammoth		8,862		4,686		13,548		21,301		4,686		25,986
Marcelo		4,605		3,911		8,516		4,575		3,911		8,486
Marie		5,559		4,397		9,956		5,503		4,397		9,900
Marietta		11,667		4,158		15,825		10,389		4,158		14,546
Marion		6,376		4,612		10,988		9,772		4,427		14,199
Marple		4,783		2,412		7,195		3,471		2,412		5,883
Martell		6,226		3,572		9,798		12,491		3,572		16,063
Mary		5,592		3,732		9,324		4,674		3,732		8,406
Matchingham		10,053		2,913		12,965		9,763		2,913		12,676
McGregor		8,872		4,132		13,004		7,841		4,132		11,973
McLovin		11,532		6,931		18,464		10,055		6,219		16,274
Meadow		7,011		4,410		11,421		5,214		4,410		9,624
Mimosa		5,403		2,954		8,357		4,364		2,954		7,318
Mojave		5,438		3,525		8,962		4,689		3,525		8,214
Murphy		7,337		4,085		11,423		12,130		4,085		16,215
Mycroft		3,948		2,466		6,414		2,964		2,466		5,430

10

OPERATIONAL EXPENSES
	June 30, 2025						June 30, 2024
Series	Operating expenses		Depreciation		Other Operating Expenses		Operating expenses			Depreciation		Total expenses
Nugget		11,558		7,694		19,252		9,522			7,694		17,216
Odessa		12,193		7,332		19,525		9,126			7,332		16,458
Olive		9,017		3,689		12,706		9,503			3,689		13,192
Oly		9,061		6,265		15,326		9,707			6,265		15,972
Onyx		6,172		6,008		12,180		8,155			6,008		14,164
Oscar		5,654		4,018		9,672		(341	)		4,018		3,677
Osceola		14,935		3,850		18,786		7,732			3,850		11,582
Osprey		10,730		5,490		16,220		8,268			5,490		13,758
Otoro		10,133		6,084		16,217		18,737			6,084		24,822
Palmer		9,395		4,586		13,981		8,899			4,586		13,485
Patrick		4,735		3,518		8,253		5,837			3,518		9,355
Peanut		5,131		2,964		8,095		3,355			2,964		6,319
Pearl		16,798		7,498		24,297		11,767			7,498		19,265
Pecan		6,533		2,863		9,395		4,218			2,863		7,081
Peterson		6,292		3,104		9,396		3,536			3,104		6,640
Piedmont		10,544		5,272		15,815		8,804			5,272		14,076
Pinot		8,898		4,429		13,327		8,330			4,429		12,760
Pioneer		10,465		8,117		18,582		10,413			8,117		18,530
Plumtree		7,911		2,768		10,679		4,121			2,768		6,888
Point		8,881		5,250		14,131		11,504			5,250		16,754
Porthos		8,799		4,148		12,947		8,695			4,148		12,843
Quincy		14,540		7,515		22,054		10,442			7,515		17,957
Redondo		8,004		4,308		12,312		6,165			4,308		10,473
Regency		23,807		4,437		28,244		7,062			3,793		10,855
Reginald		19,234		8,770		28,004		11,205			6,815		18,020
Reynolds		8,901		5,905		14,806		8,584			5,905		14,489
Ribbonwalk		13,042		4,395		17,438		8,300			4,395		12,695
Richardson		5,844		4,321		10,165		4,278			4,321		8,599
Richmond		6,229		5,232		11,461		12,638			5,232		17,870
Ridge		7,243		2,992		10,235		7,291			2,992		10,282
Ritter		9,783		6,932		16,716		16,210			6,932		23,143
River		7,014		3,662		10,676		6,647			3,662		10,308
Riverwalk		12,222		5,427		17,650		11,318			5,427		16,745
Rooney		6,464		4,422		10,886		5,583			4,422		10,005
Roseberry		12,354		4,513		16,866		7,546			4,513		12,059
Rosewood		4,783		3,719		8,502		5,070			3,719		8,789
Roxy		7,065		4,479		11,544		7,173			4,479		11,652
Saddlebred		15,892		7,639		23,531		7,721			7,639		15,360
Saint		5,047		3,791		8,838		5,174			3,791		8,965
Sajni		16,517		6,435		22,953		9,722			5,539		15,261
Salem		9,577		4,387		13,964		9,001			4,387		13,389
Salinas		6,206		4,039		10,244		3,978			4,039		8,017
Saturn		8,115		3,632		11,747		3,737			3,632		7,369
Scepter		6,504		3,238		9,741		5,453			3,238		8,690
Sequoyah		5,298		3,905		9,203		12,567			3,401		15,968
Shallowford		7,801		4,958		12,759		8,337			4,958		13,296
Shoreline		6,945		4,260		11,205		7,934			4,260		12,194
Sigma		8,534		5,240		13,774		8,531			5,240		13,771
Simon		6,543		3,976		10,519		4,677			3,976		8,653
Sims		5,645		3,749		9,394		5,927			3,749		9,676

11

OPERATIONAL EXPENSES
	June 30, 2025						June 30, 2024
Series	Operating expenses		Depreciation		Other Operating Expenses		Operating expenses		Depreciation		Total expenses
Soapstone		4,458		4,118		8,576		4,673		3,000		7,673
Sodalis		22,997		3,980		26,977		8,531		3,980		12,511
Spencer		7,979		4,157		12,136		7,741		4,157		11,898
Splash		4,564		2,978		7,541		4,826		2,978		7,804
Spring		9,979		3,401		13,380		11,221		3,401		14,622
Stonebriar		4,540		2,787		7,327		6,430		2,787		9,217
Sugar		9,514		4,279		13,793		8,703		4,279		12,982
Summerset		6,798		5,058		11,855		6,440		5,058		11,497
Sundance		6,443		5,102		11,546		7,233		5,102		12,336
Sunnyside		3,936		3,039		6,975		5,069		3,039		8,108
Swift		7,541		5,287		12,829		7,550		5,287		12,837
Taylor		7,866		3,689		11,555		9,653		3,689		13,342
Terracotta		9,894		3,787		13,680		6,502		3,787		10,289
Theodore		6,162		3,947		10,109		5,269		3,947		9,216
Tulip		7,401		4,363		11,764		5,582		4,363		9,945
Tuscan		7,956		4,439		12,395		7,303		4,439		11,742
Tuscarora		8,433		4,591		13,024		6,172		4,591		10,763
Tuxford		10,486		3,601		14,088		12,197		3,601		15,798
Vernon		7,930		3,619		11,549		8,916		3,619		12,535
Walton		8,568		4,123		12,691		3,601		4,123		7,724
Wave		8,801		4,596		13,397		24,413		4,596		29,009
Weldon		7,243		2,906		10,149		4,431		2,906		7,337
Wellington		9,020		6,241		15,261		8,591		6,241		14,832
Wentworth		5,091		3,417		8,507		4,603		3,417		8,020
Wescott		6,611		3,765		10,376		13,972		3,765		17,737
Westchester		11,727		4,687		16,414		13,729		4,687		18,416
Wildwood		4,812		3,031		7,844		5,415		3,031		8,446
Willow		5,479		4,020		9,499		3,933		4,020		7,954
Wilson		8,292		5,861		14,153		7,512		5,861		13,373
Winchester		7,033		4,209		11,242		6,640		4,209		10,849
Windsor		17,027		4,809		21,836		8,808		4,809		13,617
Winston		6,790		4,519		11,309		5,090		4,519		9,609
Wisteria		6,209		4,867		11,077		7,494		4,867		12,361
	$	1,960,225	$	1,094,523	$	3,054,748	$	1,955,178	$	1,088,121	$	3,043,299

* Arrived Homes Series Centennial, a Series of Arrived Homes, LLC was divested on October 18, 2024.

12

Other Expenses

As of June 30, 2025 and 2024, each certain incurred interest expenses, including mortgage interest and amortization of loan fees. The following table summarizes the total of such expenses incurred by each series for the six months ended June 30, 2025 and 2024.

OTHER EXPENSES (INCOME)
Series	June 30, 2025			June 30, 2024
100	$	-		$	-
101		-			-
Abbington		-			-
Abernant		-			-
Alvin		-			-
Amber		3,929			3,929
Apollo		3,897			3,897
Aster		4,278			4,416
Augusta		-			-
Avebury		4,005			3,971
Avondale		-			-
Badminton		4,070			4,070
Ballinger		(5,900	)		-
Bandelier		4,789			4,789
Baron		-			-
Basil		3,078			3,078
Bayside		3,873			3,873
Bazzel		-			-
Bedford		3,824			3,785
Bella		-			-
Belle		-			-
Belvedere		-			-
Bergenia		-			-
Blossom		-			-
Bonneau		-			-
Brainerd		4,677			5,396
Braxton		-			-
Brennan		4,495			4,495
Briarwood		-			-
Brooklyn		2,677			3,089
Burlington		-			-
Butter		5,130			5,129
Calvin		-			-
Camino		-			-
Cawley		-			-
Centennial *		-			4,438
Chaparral		2,136			2,200
Chelsea		4,215			4,215
Chester		6,236			6,422
Chickamauga		-			-
Chinook		-			-
Chitwood		-			-
Clover		-			-
Coatbridge		4,100			4,100
Collier		-			-
Collinston		2,674			2,674
Conway		-			-
Cove		-			-
Creekside		-			-

13

OTHER EXPENSES (INCOME)
Series	June 30, 2025		June 30, 2024
Creekwood		4,856		5,008
Cumberland		-		-
Cupcake		3,017		2,981
Cypress		6,105		6,253
Daisy		-		-
Davidson		2,879		2,879
Dawson		3,419		3,419
Delta		4,435		4,435
Dewberry		2,835		2,836
Diablo		4,067		4,067
Dogwood		-		-
Dolittle		4,060		4,060
Dolly		-		-
Dops		-		-
Dorchester		-		-
Dunbar		-		-
Eagle		4,529		4,529
Eastfair		3,505		3,505
Eastwood		-		-
Elevation		4,017		4,017
Ella		-		-
Ellen		-		-
Elm		2,506		2,506
Emporia		4,790		4,790
Ensenada		7,656		7,656
Falcon		4,529		4,529
Felix		-		-
Fenwick		-		-
Fletcher		-		-
Folly		-		-
Forest		5,302		5,302
Foster		-		-
Franklin		-		-
Gardens		3,271		3,271
General		-		-
Goose		4,220		4,220
Grant		5,063		5,063
Greenhill		4,454		4,454
Gretal		-		-
Grove		3,773		3,773
Hadden		2,811		2,811
Hansard		-		-
Hansel		6,771		6,771
Hargrave		-		-
Harrison		7,708		7,931
Henry		-		-
Heritage		4,859		4,859
Heron		4,809		4,809
Highland		-		-
Hines		-		-
Hobbes		-		-
Holcomb		-		-
Holland		2,879		2,879
Hollandaise		4,995		4,995
Holloway		5,160		5,160
Inglewood		-		-

14

OTHER EXPENSES (INCOME)
Series	June 30, 2025		June 30, 2024
Irene		-		-
Jack		6,384		6,384
Jake		-		-
Jefferson		-		-
Jill		6,748		6,947
Johnny		-		-
June		-		-
Jupiter		3,262		3,262
Kawana		3,766		3,766
Kennesaw		-		-
Kenny		-		-
KerriAnn		4,655		4,655
Kessler		4,312		4,423
Kingsley		5,020		5,020
Kirkwood		4,358		4,358
Korin		-		-
Lallie		5,614		5,614
Lanier		6,313		6,313
Lannister		3,588		3,588
Latte		-		-
Lennox		3,267		3,267
Lierly		2,683		2,762
Lily		6,087		6,087
Limestone		3,971		3,971
Litton		5,159		5,952
Longwoods		-		-
Lookout		-		-
Loretta		-		-
Louis		-		-
Louise		4,017		4,017
Lovejoy		4,012		4,012
Luna		3,506		3,506
Lurleen		4,120		4,761
Madison		3,122		3,122
Mae		-		-
Magnolia		4,993		4,993
Malbec		4,891		4,891
Mammoth		5,695		5,695
Marcelo		-		-
Marie		-		-
Marietta		5,102		5,260
Marion		-		-
Marple		-		-
Martell		-		-
Mary		-		-
Matchingham		2,867		2,867
McGregor		-		-
McLovin		7,179		7,179
Meadow		4,203		4,203
Mimosa		3,829		4,423
Mojave		3,240		3,240
Murphy		4,054		4,053
Mycroft		-		-
Nugget		-		-

15

OTHER EXPENSES (INCOME)
Series	June 30, 2025			June 30, 2024
Odessa		7,315			7,315
Olive		2,950			2,950
Oly		7,192			7,191
Onyx		-			-
Oscar		-			-
Osceola		-			-
Osprey		-			-
Otoro		5,363			5,363
Palmer		-			-
Patrick		2,201			2,235
Peanut		3,522			3,522
Pearl		-			-
Pecan		2,294			2,329
Peterson		-			-
Piedmont		6,453			6,645
Pinot		4,941			4,941
Pioneer		-			-
Plumtree		2,275			2,342
Point		6,405			6,405
Porthos		-			-
Quincy		-			-
Redondo		5,610			6,480
Regency		(10,041	)		5,951
Reginald		-			-
Reynolds		-			-
Ribbonwalk		4,380			4,380
Richardson		-			-
Richmond		-			-
Ridge		3,283			3,283
Ritter		-			-
River		4,017			4,017
Riverwalk		-			-
Rooney		5,063			5,063
Roseberry		4,924			4,924
Rosewood		4,525			4,525
Roxy		5,277			5,277
Saddlebred		6,496			6,496
Saint		4,146			4,146
Sajni		(4,456	)		-
Salem		4,983			4,983
Salinas		-			-
Saturn		3,262			3,262
Scepter		3,698			3,698
Sequoyah		3,998			4,613
Shallowford		6,068			6,251
Shoreline		4,936			4,877
Sigma		5,268			5,268
Simon		-			-
Sims		-			-

16

OTHER EXPENSES (INCOME)
Series	June 30, 2025			June 30, 2024
Soapstone		2,605			2,704
Sodalis		(8,220	)		-
Spencer		4,554			4,554
Splash		2,475			2,637
Spring		-			-
Stonebriar		3,221			3,221
Sugar		4,706			4,706
Summerset		3,873			3,873
Sundance		5,610			6,480
Sunnyside		-			-
Swift		-			-
Taylor		3,860			3,987
Terracotta		4,353			4,353
Theodore		-			-
Tulip		5,310			5,310
Tuscan		3,664			3,839
Tuscarora		-			-
Tuxford		3,493			3,493
Vernon		3,558			3,557
Walton		-			-
Wave		4,380			4,380
Weldon		2,674			2,674
Wellington		-			-
Wentworth		3,126			3,125
Wescott		4,145			4,145
Westchester		4,645			4,645
Wildwood		3,074			3,074
Willow		-			-
Wilson		-			-
Winchester		-			-
Windsor		5,311			5,311
Winston		-			-
Wisteria		4,966			4,966
	$	531,217		$	578,090

* Arrived Homes Series Centennial, a Series of Arrived Homes, LLC was divested on October 18, 2024.

17

Liquidity and Capital Resources

From inception, our manager has financed the business activities of each series. Upon the first closing of a particular series offering, the manager is reimbursed out of the proceeds of the relevant offering. Until such time as the series have the capacity to generate cash flows from operations, our manager may cover any deficits through capital contributions, which may be reimbursed upon closing of the relevant offering.

Cash and Cash Equivalent Balances

Cash is held at the series level. Any material differences in cash balances are the result of cash received from net proceeds from operations, financing received from the issuance of membership interests from each series, and receipts and/or repayments of amounts due to related parties.

The following table summarizes the cash and cash equivalents by series as of June 30, 2025 and 2024:

Cash and Cash Equivalents
Series	June 30, 2025		June 30, 2024
100	$	11,741	$	20,703
101		21,424		20,723
Abbington		7,891		9,185
Abernant		13,440		16,001
Alvin		24,026		28,452
Amber		4,947		4,992
Apollo		2,145		908
Aster		5,384		6,584
Augusta		20,933		25,698
Avebury		4,638		2,123
Avondale		8,925		15,764
Badminton		5,000		4,793
Ballinger		6,081		15,295
Bandelier		7,256		19,035
Baron		6,932		19,609
Basil		7,540		6,417
Bayside		4,309		3,918
Bazzel		6,828		13,445
Bedford		4,624		9,531
Bella		2,482		5,134
Belle		12,496		12,741
Belvedere		18,346		-
Bergenia		15,582		19,700
Blossom		8,897		14,309
Bonneau		9,140		1,646
Brainerd		17,883		18,592
Braxton		8,224		9,058
Brennan		1,439		1,909
Briarwood		13,462		17,835
Brooklyn		3,082		4,537
Burlington		26,116		9,899
Butter		6,783		2,032
Calvin		17,661		22,838
Camino		8,462		17,055
Cawley		14,245		22,655
Centennial *		-		10,962
Chaparral		11,873		14,136
Chelsea		9,366		10,843
Chester		9,920		15,608
Chickamauga		15,780		19,762
Chinook		10,473		4,760
Chitwood		11,308		16,610
Clover		13,993		1,549
Coatbridge		3,311		4,263
Collier		3,901		448
Collinston		15,666		1,725
Conway		9,894		11,536
Cove		6,137		4,412
Creekside		11,645		15,939
Creekwood		6,799		13,633
Cumberland		8,206		19,099
Cupcake		8,609		14,523

18

Cash and Cash Equivalents
Series	June 30, 2025		June 30, 2024
Cypress		2,554		4,268
Daisy		6,166		14,944
Davidson		3,209		5,581
Dawson		3,386		2,881
Delta		5,934		1,328
Dewberry		3,346		4,629
Diablo		4,351		6,556
Dogwood		9,043		13,283
Dolittle		5,296		508
Dolly		3,727		5,931
Dops		7,538		9,006
Dorchester		2,231		2,532
Dunbar		34,374		14,609
Eagle		12,758		20,805
Eastfair		2,646		3,549
Eastwood		12,445		15,245
Elevation		2,427		2,061
Ella		4,527		6,994
Ellen		19,921		24,230
Elm		4,066		2,563
Emporia		29,549		4,297
Ensenada		23,445		10,697
Falcon		8,689		17,280
Felix		8,314		10,729
Fenwick		11,898		19,938
Fletcher		18,568		18,220
Folly		6,995		16,282
Forest		7,360		3,387
Foster		18,080		28,430
Franklin		13,970		13,068
Gardens		5,041		2,542
General		9,800		12,941
Goose		8,859		14,339
Grant		7,429		9,655
Greenhill		5,937		3,654
Gretal		13,247		18,240
Grove		3,258		3,720
Hadden		3,762		6,809
Hansard		14,572		20,615
Hansel		19,436		7,813
Hargrave		4,025		17,392
Harrison		14,220		19,360
Henry		10,538		455
Heritage		8,007		19,502
Heron		4,352		1,099
Highland		1,075		4,233
Hines		5,662		2,993
Hobbes		7,982		16,261
Holcomb		15,373		17,374
Holland		3,663		2,501
Hollandaise		5,653		2,926
Holloway		4,699		7,337
Inglewood		7,255		8,005

19

Cash and Cash Equivalents
Series	June 30, 2025		June 30, 2024
Irene		16,445		19,965
Jack		20,549		4,202
Jake		31,009		10,949
Jefferson		14,810		18,399
Jill		8,048		11,613
Johnny		27,298		42,500
June		6,470		31,022
Jupiter		8,214		1,809
Kawana		9,922		12,409
Kennesaw		10,568		16,109
Kenny		17,537		8,376
KerriAnn		3,056		741
Kessler		18,019		3,532
Kingsley		5,926		5,351
Kirkwood		1,211		493
Korin		16,187		19,720
Lallie		2,470		4,604
Lanier		3,071		5,838
Lannister		1,669		2,817
Latte		10,183		15,000
Lennox		3,976		4,980
Lierly		15,035		17,807
Lily		3,546		10,076
Limestone		5,001		1,996
Litton		13,148		23,688
Longwoods		10,619		16,523
Lookout		10,350		8,233
Loretta		14,250		11,318
Louis		16,644		22,815
Louise		5,843		3,036
Lovejoy		4,311		3,866
Luna		4,068		4,022
Lurleen		31		4,445
Madison		6,471		5,143
Mae		6,919		10,695
Magnolia		6,103		21,450
Malbec		6,412		8,540
Mammoth		4,385		858
Marcelo		8,730		11,473
Marie		18,149		22,989
Marietta		2,786		4,533
Marion		7,591		1,584
Marple		3,895		15,930
Martell		7,620		1,704
Mary		13,841		18,349
Matchingham		2,530		6,183
McGregor		4,832		6,131
McLovin		16,374		2,381
Meadow		4,726		8,762
Mimosa		5,824		8,848
Mojave		18,076		3,204
Murphy		4,240		3,655
Mycroft		12,187		16,142

20

Cash and Cash Equivalents
Series	June 30, 2025		June 30, 2024
Nugget		4,377		9,267
Odessa		20,388		5,678
Olive		3,570		3,723
Oly		9,682		7,885
Onyx		7,873		6,619
Oscar		4,876		7,263
Osceola		7,304		7,054
Osprey		7,028		12,737
Otoro		2,462		1,253
Palmer		5,163		11,280
Patrick		8,301		7,225
Peanut		4,728		7,204
Pearl		1,548		5,602
Pecan		15,191		17,193
Peterson		17,784		21,133
Piedmont		6,948		14,919
Pinot		6,670		11,005
Pioneer		23,397		6,382
Plumtree		8,967		18,527
Point		18,221		1,303
Porthos		12,565		19,433
Quincy		21,486		17,681
Redondo		15,511		7,915
Regency		2,182		19,727
Reginald		20,801		15,668
Reynolds		19,247		22,451
Ribbonwalk		2,021		11,672
Richardson		14,086		17,795
Richmond		16,421		28,039
Ridge		4,266		2,945
Ritter		9,689		6,811
River		6,852		5,682
Riverwalk		13,970		14,667
Rooney		6,790		9,748
Roseberry		3,130		2,519
Rosewood		7,750		764
Roxy		6,560		6,970
Saddlebred		3,702		13,484
Saint		12,626		14,086
Sajni		70,064		268
Salem		2,886		6,133
Salinas		7,216		8,913
Saturn		2,294		8,775
Scepter		17,220		2,173
Sequoyah		6,587		-
Shallowford		6,639		-
Shoreline		6,976		1,468
Sigma		9,161		371
Simon		16,190		2,600
Sims		13,096		937
Soapstone		11,187		1,152
Sodalis		1,494		1,846

21

Cash and Cash Equivalents
Series	June 30, 2025		June 30, 2024
Spencer		4,560		1,436
Splash		9,335		1,467
Spring		3,261		2,089
Stonebriar		6,918		10,239
Sugar		3,486		2,090
Summerset		5,758		4,249
Sundance		6,806		6,006
Sunnyside		14,544		20,260
Swift		20,567		18,822
Taylor		982		2,997
Terracotta		14,437		5,197
Theodore		13,379		17,640
Tulip		6,138		5,858
Tuscan		17,256		22,889
Tuscarora		10,684		15,247
Tuxford		4,526		6,048
Vernon		4,029		4,413
Walton		10,947		12,810
Wave		3,735		312
Weldon		4,085		3,845
Wellington		6,960		13,910
Wentworth		8,805		13,265
Wescott		4,719		2,101
Westchester		4,222		6,964
Wildwood		8,167		8,846
Willow		1,336		14,430
Wilson		8,937		13,564
Winchester		5,906		10,088
Windsor		18,700		5,776
Winston		10,761		17,689
Wisteria		7,939		6,623
	$	2,304,110	$	2,406,441

* Arrived Homes Series Centennial, a Series of Arrived Homes, LLC was divested on October 18, 2024.

22

Plan of Operations

We intend to hold and manage the series properties for five to seven years during which time we will operate the series properties as single-family rental income properties. During this period, we intend to distribute any Free Cash Flow to investors.

As each of our properties reaches what we believe to be its optimum value, we will consider disposing of the property. The determination of when a particular property should be sold or otherwise disposed of will be made after consideration of relevant factors, including prevailing and projected economic conditions, whether the value of the property is anticipated to appreciate or decline substantially, local regulatory changes, environmental and other factors that may reduce the desirability of single-family rentals in a particular market, and how operating history may impact the potential sales price. The manager may determine that it is in the best interests of members to sell a property earlier than five years or to hold a property for more than seven years.

As of the current date, we do not know how many series we will be offering. However, in any case, the aggregate dollar amount of all of the series interests that we will sell within the 12-month period will not exceed the maximum amount allowed under Regulation A. It is anticipated that the proceeds from any offerings closed during the next twelve months will be used to acquire additional properties.

Our Policies for Approving New Tenants

We intend to seek out tenants for our properties who are financially responsible and capable of paying their rent. We will conduct due diligence on prospective tenant applicants by (a) verifying their incomes, (b) running credit checks, (c) performing criminal background checks, and (d) requesting references from previous landlords. While we do not have specific standards for any of these items, we will use these screening methods to determine, prior to approving a lease, whether we believe a potential lessee is financially responsible.

Trend Information

Our results of operations are affected by a variety of factors, including conditions in the financial markets and the economic and political environments, particularly in the United States. Global economic conditions, including political environments, financial market performance, interest rates, credit spreads or other conditions beyond our control are unpredictable and could negatively affect the value of the series properties, our ability to acquire and manage single family rentals and the success of our current and future offerings. In addition to the aforementioned macroeconomic trends, we believe the following factors will influence our future performance:

- Elevated interest rates or fluctuations in interest rates may have a negative effect on the demand for our offerings due to the attractiveness of alternative investments.

- The continuing increase in prices in the United States housing market may result in difficulties in sourcing properties and meeting demand for our offerings.

- Sustained levels of remote and hybrid work arrangements may lead to greater rental activity in our target markets.

ITEM 2. OTHER INFORMATION

None.

23

ITEM 3. FINANCIAL STATEMENTS

ARRIVED HOMES, LLC AND ITS SERIES

UNAUDITED CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2025 (UNAUDITED)	F-2
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2024 (DERIVED FROM AUDITED FINANCIAL STATEMENTS)	F-33
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-65
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-100
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-135
CONSOLIDATED AND CONSOLIDATING STATEMENTS OF CHANGES IN MEMBERS’ EQUITY (DEFICIT) FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-165
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2025 (UNAUDITED)	F-195
CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2024 (UNAUDITED)	F-235
NOTES TO CONSOLIDATED AND CONSOLIDATING FINANCIAL STATEMENTS	F-275

F-1

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	100			101			Abbington			Abernant			Alvin		Amber			Apollo			Aster
ASSETS
Current assets:
Cash	$	11,741		$	21,424		$	7,891		$	13,440		$	24,026	$	4,947		$	2,145		$	5,384
Other receivables		-			-			-			-			-		-			-			-
Prepaid expenses		-			-			233			212			254		3,723			3,476			3,097
Due from (to) third party property managers		5,727			6,145			8,730			3,634			1,593		4,348			2,980			3,884
Total current assets		17,468			27,569			16,854			17,287			25,873		13,017			8,601			12,365
Property and equipment, net		567,219			593,550			446,915			218,152			305,008		276,125			191,366			236,971
Total assets	$	584,687		$	621,119		$	463,769		$	235,439		$	330,880	$	289,142		$	199,967		$	249,336
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,292		$	10,042		$	2,535		$	2,594		$	2,724	$	2,233		$	1,248		$	1,189
Due to third party property managers		-			-			-			-			-		-			-			-
Due to (from) related parties		22,292			30,062			17,624			2,503			3,371		6,494			4,592			6,062
Total current liabilities		27,584			40,104			20,159			5,097			6,096		8,727			5,840			7,250
Tenant deposits		2,995			3,095			2,845			1,745			2,545		1,950			1,345			2,245
Mortgage payable, net		-			-			-			-			-		198,856			133,378			124,503
Operational notes, related party		-			25,000			-			-			-		6,900			20,000			9,700
Due to commonly controlled entity		-			-			-			-			-		-			-			-
Total liabilities		30,579			68,199			23,004			6,842			8,641		216,433			160,563			143,698
Members’ equity (deficit)
Members’ capital		578,645			622,708			455,484			235,477			316,045		109,495			70,091			147,846
Retained earnings (accumulated deficit)		(24,537	)		(69,789	)		(14,719	)		(6,880	)		6,195		(36,786	)		(30,687	)		(42,208	)
Total members’ equity (deficit)		554,108			552,920			440,765			228,597			322,240		72,709			39,404			105,638
Total liabilities and members’ equity (deficit)	$	584,687		$	621,119		$	463,769		$	235,439		$	330,880	$	289,142		$	199,967		$	249,336

F-2

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Augusta			Avebury			Avondale			Badminton			Ballinger			Bandelier			Baron			Basil
ASSETS
Current assets:
Cash	$	20,933		$	4,638		$	8,925		$	5,000		$	6,081		$	7,256		$	6,932		$	7,540
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		509			2,749			-			2,286			0			5,074			(0	)		2,299
Due from (to) third party property managers		3,615			4,630			4,218			4,925			4,506			3,927			2,332			3,979
Total current assets		25,057			12,017			13,143			12,211			10,587			16,256			9,265			13,818
Property and equipment, net		282,547			267,009			313,614			233,321			288,898			319,509			540,314			181,488
Total assets	$	307,604		$	279,026		$	326,757		$	245,531		$	299,484		$	335,765		$	549,578		$	195,306
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,315		$	1,216		$	3,165		$	1,327		$	2,101		$	1,352		$	4,750		$	1,166
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		3,913			6,401			4,613			4,829			3,182			7,234			20,739			4,421
Total current liabilities		7,228			7,616			7,778			6,156			5,284			8,586			25,488			5,588
Tenant deposits		1,995			1,795			1,995			2,195			2,320			2,245			3,345			1,595
Mortgage payable, net		-			200,980			-			172,047			-			242,659			-			129,840
Operational notes, related party		-			5,400			-			17,300			-			-			-			9,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		9,223			215,791			9,773			197,698			7,604			253,490			28,833			146,723
Members’ equity (deficit)
Members’ capital		300,123			93,164			333,531			76,867			302,555			117,337			544,999			61,602
Retained earnings (accumulated deficit)		(1,743	)		(29,928	)		(16,548	)		(29,034	)		(10,675	)		(35,062	)		(24,255	)		(13,018	)
Total members’ equity (deficit)		298,381			63,235			316,984			47,833			291,881			82,274			520,745			48,584
Total liabilities and members’ equity (deficit)	$	307,604		$	279,026		$	326,757		$	245,531		$	299,484		$	335,765		$	549,578		$	195,306

F-3

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Bayside			Bazzel			Bedford			Bella			Belle			Belvedere		Bergenia			Blossom
ASSETS
Current assets:
Cash	$	4,309		$	6,828		$	4,624		$	2,482		$	12,496		$	18,346	$	15,582		$	8,897
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		4,717			943			3,787			492			799			0		(0	)		208
Due from (to) third party property managers		4,339			4,348			5,245			3,960			4,790			4,408		3,330			3,135
Total current assets		13,364			12,119			13,656			6,935			18,086			22,754		18,912			12,240
Property and equipment, net		230,002			247,397			257,771			292,316			407,839			280,899		208,043			236,501
Total assets	$	243,366		$	259,516		$	271,428		$	299,251		$	425,925		$	303,653	$	226,955		$	248,741
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,786		$	4,070		$	1,462		$	3,618		$	4,319		$	3,003	$	1,952		$	4,035
Due to third party property managers		-			-			-			-			-			-		-			-
Due to (from) related parties		5,287			10,216			5,206			4,156			9,467			4,199		2,953			5,762
Total current liabilities		7,073			14,286			6,668			7,773			13,786			7,202		4,905			9,798
Tenant deposits		2,619			1,845			2,295			1,945			2,649			2,295		1,845			1,845
Mortgage payable, net		163,664			-			194,597			-			-			-		-			-
Operational notes, related party		10,000			21,700			13,300			-			23,600			-		-			7,400
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		183,355			37,831			216,860			9,718			40,035			9,497		6,750			19,043
Members’ equity (deficit)
Members’ capital		84,702			248,077			90,397			311,883			427,771			288,009		216,840			250,578
Retained earnings (accumulated deficit)		(24,691	)		(26,392	)		(35,829	)		(22,350	)		(41,881	)		6,147		3,365			(20,880	)
Total members’ equity (deficit)		60,011			221,685			54,567			289,533			385,890			294,156		220,205			229,698
Total liabilities and members’ equity (deficit)	$	243,366		$	259,516		$	271,428		$	299,251		$	425,925		$	303,653	$	226,955		$	248,741

F-4

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Bonneau			Brainerd			Braxton			Brennan			Briarwood			Brooklyn			Burlington			Butter
ASSETS
Current assets:
Cash	$	9,140		$	17,883		$	8,224		$	1,439		$	13,462		$	3,082		$	26,116		$	6,783
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		267			325			487			3,855			237			227			1,428			5,416
Due from (to) third party property managers		3,924			4,779			4,293			4,851			3,054			2,317			6,177			9,080
Total current assets		13,331			22,986			13,005			10,145			16,753			5,625			33,721			21,278
Property and equipment, net		313,959			272,414			300,491			209,211			200,163			158,491			600,336			343,367
Total assets	$	327,290		$	295,400		$	313,495		$	219,356		$	216,915		$	164,117		$	634,057		$	364,644
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,735		$	3,119		$	3,129		$	1,561		$	2,365		$	2,226		$	16,399		$	2,001
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		7,642			6,737			7,033			5,462			2,341			3,900			23,561			7,451
Total current liabilities		13,377			9,856			10,162			7,023			4,706			6,126			39,960			9,452
Tenant deposits		2,295			2,595			2,045			1,545			1,995			1,249			3,195			2,795
Mortgage payable, net		-			143,248			-			154,012			-			81,997			-			260,030
Operational notes, related party		7,000			-			10,700			35,200			-			13,100			12,000			24,200
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		22,672			155,699			22,907			197,779			6,701			102,472			55,155			296,477
Members’ equity (deficit)
Members’ capital		326,653			147,760			307,214			84,906			214,303			94,432			609,676			113,771
Retained earnings (accumulated deficit)		(22,034	)		(8,059	)		(16,626	)		(63,330	)		(4,088	)		(32,788	)		(30,774	)		(45,604	)
Total members’ equity (deficit)		304,618			139,701			290,588			21,577			210,214			61,644			578,902			68,168
Total liabilities and members’ equity (deficit)	$	327,290		$	295,400		$	313,495		$	219,356		$	216,915		$	164,117		$	634,057		$	364,644

F-5

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Calvin		Camino			Cawley			Chaparral			Chelsea			Chester			Chickamauga		Chinook
ASSETS
Current assets:
Cash	$	17,661	$	8,462		$	14,245		$	11,873		$	9,366		$	9,920		$	15,780	$	10,473
Other receivables		-		-			-			-			-			-			-		-
Prepaid expenses		199		3			545			29			3,965			4,593			597		624
Due from (to) third party property managers		5,454		2,978			2,436			2,669			4,851			5,831			5,828		3,935
Total current assets		23,315		11,442			17,226			14,572			18,182			20,345			22,205		15,032
Property and equipment, net		226,100		245,987			299,674			173,414			282,961			344,344			349,528		295,599
Total assets	$	249,415	$	257,429		$	316,900		$	187,986		$	301,143		$	364,689		$	371,733	$	310,630
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,180	$	2,118		$	3,434		$	5,912		$	2,299		$	1,189		$	2,603	$	3,452
Due to third party property managers		-		-			-			-			-			-			-		-
Due to (from) related parties		2,786		4,969			4,166			6,180			6,618			8,455			6,098		5,302
Total current liabilities		4,965		7,087			7,600			12,092			8,917			9,645			8,701		8,754
Tenant deposits		1,795		1,595			2,195			1,695			1,895			3,943			3,693		1,995
Mortgage payable, net		-		-			-			103,376			213,388			181,940			-		-
Operational notes, related party		-		-			-			-			-			-			-		5,200
Due to commonly controlled entity		-		-			-			-			-			-			-		-
Total liabilities		6,760		8,682			9,795			117,163			224,200			195,527			12,394		15,949
Members’ equity (deficit)
Members’ capital		238,621		251,183			308,660			71,128			95,743			205,542			353,104		309,747
Retained earnings (accumulated deficit)		4,035		(2,436	)		(1,555	)		(305	)		(18,800	)		(36,380	)		6,235		(15,066	)
Total members’ equity (deficit)		242,655		248,747			307,104			70,823			76,943			169,162			359,339		294,681
Total liabilities and members’ equity (deficit)	$	249,415	$	257,429		$	316,900		$	187,986		$	301,143		$	364,689		$	371,733	$	310,630

F-6

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Chitwood			Clover			Coatbridge			Collier			Collinston			Conway			Cove			Creekside
ASSETS
Current assets:
Cash	$	11,308		$	13,993		$	3,311		$	3,901		$	15,666		$	9,894		$	6,137		$	11,645
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		17			214			3,150			27			2,391			630			219			172
Due from (to) third party property managers		4,750			2,335			4,057			4,680			7,418			6,177			10,356			4,187
Total current assets		16,075			16,542			10,518			8,609			25,475			16,701			16,713			16,004
Property and equipment, net		354,720			306,807			248,470			329,310			190,515			636,846			199,410			288,383
Total assets	$	370,795		$	323,348		$	258,988		$	337,918		$	215,989		$	653,547		$	216,122		$	304,387
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	4,515		$	8,602		$	1,544		$	1,626		$	7,426		$	3,357		$	2,792		$	5,926
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		7,067			17,528			4,024			12,838			10,297			16,813			3,794			5,780
Total current liabilities		11,582			26,129			5,568			14,464			17,723			20,170			6,586			11,706
Tenant deposits		2,795			-			3,143			2,445			1,595			3,645			1,695			2,395
Mortgage payable, net		-			-			173,329			-			134,948			-			-			-
Operational notes, related party		-			5,600			25,400			-			35,600			11,800			24,700			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		14,377			31,729			207,440			16,909			189,866			35,615			32,981			14,101
Members’ equity (deficit)
Members’ capital		358,889			309,765			95,883			327,172			82,181			661,170			218,173			282,594
Retained earnings (accumulated deficit)		(2,471	)		(18,146	)		(44,334	)		(6,163	)		(56,058	)		(43,238	)		(35,032	)		7,692
Total members’ equity (deficit)		356,418			291,619			51,548			321,009			26,123			617,932			183,141			290,286
Total liabilities and members’ equity (deficit)	$	370,795		$	323,348		$	258,988		$	337,918		$	215,989		$	653,547		$	216,122		$	304,387

F-7

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Creekwood			Cumberland			Cupcake			Cypress			Daisy			Davidson			Dawson			Delta
ASSETS
Current assets:
Cash	$	6,799		$	8,206		$	8,609		$	2,554		$	6,166		$	3,209		$	3,386		$	5,934
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		4,664			210			2,317			11,180			113			3,746			3,489			5,481
Due from (to) third party property managers		6,200			3,735			1,868			5,501			3,725			3,416			4,061			6,610
Total current assets		17,662			12,150			12,794			19,236			10,004			10,371			10,936			18,024
Property and equipment, net		268,317			274,661			204,704			339,373			279,315			191,173			205,246			318,853
Total assets	$	285,978		$	286,811		$	217,498		$	358,609		$	289,318		$	201,544		$	216,181		$	336,877
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,155		$	2,274		$	1,122		$	1,788		$	4,516		$	1,442		$	1,308		$	2,132
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		6,263			5,626			5,886			11,465			5,751			6,877			4,585			15,763
Total current liabilities		7,418			7,901			7,008			13,253			10,267			8,318			5,893			17,896
Tenant deposits		1,795			2,145			1,595			2,395			1,695			1,495			1,745			2,195
Mortgage payable, net		141,439			-			150,213			179,263			-			145,374			144,333			224,628
Operational notes, related party		-			-			-			-			-			14,600			23,900			95,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		150,653			10,046			158,816			194,911			11,962			169,787			175,871			340,419
Members’ equity (deficit)
Members’ capital		163,940			279,732			62,066			202,939			281,631			70,541			79,982			118,520
Retained earnings (accumulated deficit)		(28,614	)		(2,966	)		(3,384	)		(39,241	)		(4,275	)		(38,784	)		(39,672	)		(122,062	)
Total members’ equity (deficit)		135,326			276,766			58,682			163,698			277,357			31,757			40,310			(3,542	)
Total liabilities and members’ equity (deficit)	$	285,978		$	286,811		$	217,498		$	358,609		$	289,318		$	201,544		$	216,181		$	336,877

F-8

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Dewberry			Diablo			Dogwood			Dolittle			Dolly			Dops		Dorchester			Dunbar
ASSETS
Current assets:
Cash	$	3,346		$	4,351		$	9,043		$	5,296		$	3,727		$	7,538	$	2,231		$	34,374
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		2,166			4,278			333			4,134			249			1,210		703			-
Due from (to) third party property managers		5,671			5,181			2,557			5,141			7,536			5,428		-			2,340
Total current assets		11,183			13,810			11,933			14,571			11,512			14,176		2,933			36,714
Property and equipment, net		170,298			274,199			222,809			278,022			639,556			192,155		325,457			314,277
Total assets	$	181,481		$	288,009		$	234,741		$	292,593		$	651,069		$	206,330	$	328,391		$	350,991
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,233		$	3,745		$	1,798		$	2,471		$	3,088		$	1,986	$	6,587		$	19,676
Due to third party property managers		-			-			-			-			-			-		5,561			-
Due to (from) related parties		8,203			6,822			8,883			9,849			12,352			3,328		17,325			28,575
Total current liabilities		9,435			10,567			10,681			12,320			15,440			5,314		29,474			48,251
Tenant deposits		1,695			2,145			1,750			2,295			3,995			1,495		2,195			-
Mortgage payable, net		119,530			205,860			-			205,546			-			-		-			-
Operational notes, related party		18,500			28,300			-			6,300			-			-		7,000			58,200
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		149,160			246,872			12,431			226,461			19,435			6,809		38,669			106,451
Members’ equity (deficit)
Members’ capital		67,937			96,890			225,765			97,267			668,122			197,969		339,619			322,376
Retained earnings (accumulated deficit)		(35,616	)		(55,753	)		(3,455	)		(31,135	)		(36,489	)		1,552		(49,897	)		(77,836	)
Total members’ equity (deficit)		32,321			41,137			222,310			66,132			631,633			199,521		289,722			244,540
Total liabilities and members’ equity (deficit)	$	181,481		$	288,009		$	234,741		$	292,593		$	651,069		$	206,330	$	328,391		$	350,991

F-9

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Eagle			Eastfair			Eastwood			Elevation			Ella			Ellen			Elm			Emporia
ASSETS
Current assets:
Cash	$	12,758		$	2,646		$	12,445		$	2,427		$	4,527		$	19,921		$	4,066		$	29,549
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,994			5,045			245			2,988			193			350			3,623			4,781
Due from (to) third party property managers		389			1,501			3,506			7,884			3,613			4,474			4,797			852
Total current assets		17,141			9,192			16,196			13,300			8,332			24,745			12,486			35,182
Property and equipment, net		257,200			192,678			305,755			247,408			246,292			237,120			148,793			322,195
Total assets	$	274,341		$	201,869		$	321,951		$	260,708		$	254,624		$	261,865		$	161,279		$	357,376
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,355		$	1,264		$	2,554		$	1,807		$	2,213		$	4,070		$	1,195		$	15,380
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		6,340			8,757			3,263			10,713			4,112			3,216			4,365			23,193
Total current liabilities		7,695			10,021			5,816			12,520			6,325			7,286			5,560			38,573
Tenant deposits		1,995			1,949			2,395			1,895			1,995			2,693			1,495			-
Mortgage payable, net		131,876			148,056			-			170,480			-			-			105,894			242,707
Operational notes, related party		-			17,500			-			55,100			-			-			12,400			29,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		141,566			177,526			8,211			239,995			8,320			9,979			125,350			310,980
Members’ equity (deficit)
Members’ capital		142,310			59,630			332,328			100,669			258,029			252,249			57,647			118,276
Retained earnings (accumulated deficit)		(9,535	)		(35,287	)		(18,589	)		(79,956	)		(11,725	)		(363	)		(21,718	)		(71,880	)
Total members’ equity (deficit)		132,775			24,343			313,740			20,713			246,304			251,886			35,929			46,396
Total liabilities and members’ equity (deficit)	$	274,341		$	201,869		$	321,951		$	260,708		$	254,624		$	261,865		$	161,279		$	357,376

F-10

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Ensenada			Falcon			Felix			Fenwick			Fletcher			Folly			Forest			Foster
ASSETS
Current assets:
Cash	$	23,445		$	8,689		$	8,314		$	11,898		$	18,568		$	6,995		$	7,360		$	18,080
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		6,840			4,088			334			518			(0	)		556			5,010			(0	)
Due from (to) third party property managers		6,541			4,315			3,878			3,114			2,088			4,900			16,152			4,635
Total current assets		36,826			17,092			12,526			15,530			20,656			12,451			28,522			22,715
Property and equipment, net		512,329			257,865			241,021			285,660			168,026			292,737			322,912			298,616
Total assets	$	549,154		$	274,957		$	253,546		$	301,190		$	188,681		$	305,189		$	351,434		$	321,331
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,902		$	2,354		$	2,564		$	3,089		$	1,742		$	5,108		$	2,041		$	2,544
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		16,210			6,282			3,308			3,857			1,992			13,387			7,382			4,274
Total current liabilities		22,112			8,636			5,871			6,946			3,734			18,495			9,423			6,818
Tenant deposits		3,195			2,345			2,393			1,850			1,395			2,695			2,445			2,349
Mortgage payable, net		388,761			131,866			-			-			-			-			225,371			-
Operational notes, related party		18,100			-			-			-			-			6,600			60,400			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		432,168			142,847			8,264			8,796			5,129			27,790			297,639			9,167
Members’ equity (deficit)
Members’ capital		182,362			142,873			248,575			303,967			181,039			304,620			132,546			308,015
Retained earnings (accumulated deficit)		(65,376	)		(10,763	)		(3,292	)		(11,573	)		2,513			(27,221	)		(78,750	)		4,149
Total members’ equity (deficit)		116,986			132,110			245,283			292,394			183,552			277,399			53,795			312,164
Total liabilities and members’ equity (deficit)	$	549,154		$	274,957		$	253,546		$	301,190		$	188,681		$	305,189		$	351,434		$	321,331

F-11

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Franklin			Gardens			General			Goose			Grant			Greenhill			Gretal			Grove
ASSETS
Current assets:
Cash	$	13,970		$	5,041		$	9,800		$	8,859		$	7,429		$	5,937		$	13,247		$	3,258
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		523			2,109			467			3,990			5,459			4,917			197			3,342
Due from (to) third party property managers		4,691			4,737			4,442			3,567			5,478			5,944			3,125			3,893
Total current assets		19,184			11,886			14,709			16,417			18,365			16,798			16,569			10,494
Property and equipment, net		288,451			206,969			301,774			239,689			341,675			298,962			420,708			213,213
Total assets	$	307,635		$	218,855		$	316,484		$	256,106		$	360,040		$	315,760		$	437,277		$	223,707
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,987		$	1,207		$	3,539		$	1,244		$	1,233		$	1,466		$	2,215		$	1,257
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		8,549			5,173			3,999			5,845			7,612			10,914			7,373			7,043
Total current liabilities		16,536			6,379			7,538			7,088			8,845			12,380			9,588			8,300
Tenant deposits		2,595			1,595			2,495			1,895			-			3,119			2,395			1,869
Mortgage payable, net		-			134,919			-			122,793			256,637			225,606			-			155,778
Operational notes, related party		-			11,000			-			-			-			-			-			11,100
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		19,131			153,893			10,033			131,777			265,482			241,105			11,983			177,047
Members’ equity (deficit)
Members’ capital		304,237			83,805			314,810			131,554			120,005			96,090			439,879			81,289
Retained earnings (accumulated deficit)		(15,733	)		(18,844	)		(8,359	)		(7,225	)		(25,446	)		(21,435	)		(14,584	)		(34,628	)
Total members’ equity (deficit)		288,504			64,962			306,451			124,329			94,559			74,656			425,294			46,660
Total liabilities and members’ equity (deficit)	$	307,635		$	218,855		$	316,484		$	256,106		$	360,040		$	315,760		$	437,277		$	223,707

F-12

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Hadden			Hansard		Hansel			Hargrave			Harrison			Henry			Heritage			Heron
ASSETS
Current assets:
Cash	$	3,762		$	14,572	$	19,436		$	4,025		$	14,220		$	10,538		$	8,007		$	4,352
Other receivables		-			-		-			-			-			-			-			-
Prepaid expenses		3,574			100		6,199			199			5,539			63			5,143			3,994
Due from (to) third party property managers		3,757			6,790		4,647			1,760			5,258			2,034			4,568			5,109
Total current assets		11,093			21,462		30,283			5,984			25,017			12,635			17,718			13,455
Property and equipment, net		201,770			284,882		377,395			223,744			425,589			399,032			270,710			266,991
Total assets	$	212,863		$	306,344	$	407,677		$	229,728		$	450,607		$	411,667		$	288,427		$	280,447
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,100		$	2,509	$	7,732		$	2,290		$	2,815		$	6,266		$	1,292		$	2,391
Due to third party property managers		-			-		-			-			-			-			-			-
Due to (from) related parties		5,795			4,753		13,264			2,856			10,403			8,796			6,293			8,325
Total current liabilities		6,895			7,262		20,995			5,146			13,218			15,062			7,584			10,716
Tenant deposits		1,645			4,840		3,003			3,190			3,045			2,395			1,995			2,369
Mortgage payable, net		141,882			-		197,657			-			225,140			-			200,967			198,881
Operational notes, related party		-			-		22,600			-			-			49,500			19,300			7,100
Due to commonly controlled entity		-			-		-			-			-			-			-			-
Total liabilities		150,422			12,102		244,256			8,336			241,403			66,957			229,846			219,065
Members’ equity (deficit)
Members’ capital		80,276			290,607		224,184			247,494			241,998			411,235			98,520			99,009
Retained earnings (accumulated deficit)		(17,835	)		3,635		(60,763	)		(26,101	)		(32,795	)		(66,525	)		(39,939	)		(37,628	)
Total members’ equity (deficit)		62,441			294,242		163,422			221,392			209,203			344,710			58,581			61,381
Total liabilities and members’ equity (deficit)	$	212,863		$	306,344	$	407,677		$	229,728		$	450,607		$	411,667		$	288,427		$	280,447

F-13

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Highland			Hines			Hobbes			Holcomb			Holland			Hollandaise			Holloway			Inglewood
ASSETS
Current assets:
Cash	$	1,075		$	5,662		$	7,982		$	15,373		$	3,663		$	5,653		$	4,699		$	7,255
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		-			-			199			(0	)		3,663			5,100			3,662			1,033
Due from (to) third party property managers		1,710			3,205			3,845			619			4,667			10,978			5,779			5,908
Total current assets		2,785			8,866			12,026			15,992			11,993			21,732			14,140			14,195
Property and equipment, net		266,086			241,710			224,037			328,388			190,688			336,052			304,575			631,537
Total assets	$	268,871		$	250,577		$	236,063		$	344,381		$	202,681		$	357,785		$	318,715		$	645,733
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,411		$	2,118		$	2,152		$	4,886		$	1,100		$	1,277		$	1,339		$	3,354
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		8,545			16,315			2,598			12,869			8,381			10,722			6,068			11,450
Total current liabilities		11,956			18,433			4,750			17,755			9,481			11,999			7,407			14,804
Tenant deposits		-			1,845			2,393			2,095			2,168			1,895			3,119			3,445
Mortgage payable, net		-			-			-			-			145,379			253,130			218,443			-
Operational notes, related party		-			-			-			-			-			13,200			9,900			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		11,956			20,278			7,142			19,850			157,028			280,224			238,869			18,249
Members’ equity (deficit)
Members’ capital		271,830			247,650			243,971			339,527			80,491			133,503			114,566			664,353
Retained earnings (accumulated deficit)		(14,915	)		(17,352	)		(15,051	)		(14,996	)		(34,838	)		(55,942	)		(34,720	)		(36,869	)
Total members’ equity (deficit)		256,915			230,298			228,920			324,531			45,653			77,561			79,846			627,484
Total liabilities and members’ equity (deficit)	$	268,871		$	250,577		$	236,063		$	344,381		$	202,681		$	357,785		$	318,715		$	645,733

F-14

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Irene		Jack			Jake			Jefferson		Jill			Johnny			June			Jupiter
ASSETS
Current assets:
Cash	$	16,445	$	20,549		$	31,009		$	14,810	$	8,048		$	27,298		$	6,470		$	8,214
Other receivables		-		-			-			-		-			-			-			-
Prepaid expenses		211		5,714			380			873		7,509			177			178			2,746
Due from (to) third party property managers		2,713		5,085			9,158			4,821		4,441			6,258			5,619			3,465
Total current assets		19,370		31,348			40,547			20,504		19,997			33,733			12,267			14,424
Property and equipment, net		168,026		385,179			544,927			257,939		372,753			543,147			543,147			190,511
Total assets	$	187,395	$	416,526		$	585,474		$	278,443	$	392,751		$	576,880		$	555,414		$	204,935
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,213	$	8,853		$	14,433		$	2,028	$	1,193		$	14,543		$	7,394		$	1,143
Due to third party property managers		-		-			-			-		-			-			-			-
Due to (from) related parties		2,024		14,900			30,444			4,339		8,429			26,331			24,240			5,340
Total current liabilities		4,237		23,753			44,876			6,367		9,622			40,874			31,634			6,483
Tenant deposits		1,395		3,143			2,995			2,595		2,195			2,995			2,945			1,550
Mortgage payable, net		-		287,023			-			-		196,982			-			-			138,176
Operational notes, related party		-		17,200			23,900			-		-			19,200			9,300			6,900
Due to commonly controlled entity		-		-			-			-		-			-			-			-
Total liabilities		5,632		331,118			71,771			8,962		208,798			63,069			43,879			153,109
Members’ equity (deficit)
Members’ capital		179,542		142,880			572,703			259,241		217,151			562,127			571,397			79,455
Retained earnings (accumulated deficit)		2,222		(57,472	)		(59,000	)		10,239		(33,199	)		(48,317	)		(59,862	)		(27,630	)
Total members’ equity (deficit)		181,763		85,408			513,703			269,480		183,952			513,811			511,535			51,826
Total liabilities and members’ equity (deficit)	$	187,395	$	416,526		$	585,474		$	278,443	$	392,751		$	576,880		$	555,414		$	204,935

F-15

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Kawana			Kennesaw			Kenny			KerriAnn			Kessler			Kingsley			Kirkwood			Korin
ASSETS
Current assets:
Cash	$	9,922		$	10,568		$	17,537		$	3,056		$	18,019		$	5,926		$	1,211		$	16,187
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,979			288			249			3,531			3,043			82			4,681			(0	)
Due from (to) third party property managers		4,721			5,809			6,953			6,214			2,089			6,209			2,425			4,067
Total current assets		18,622			16,666			24,739			12,801			23,152			12,216			8,317			20,253
Property and equipment, net		253,013			393,962			639,556			308,351			242,147			282,503			247,276			260,858
Total assets	$	271,636		$	410,628		$	664,295		$	321,152		$	265,299		$	294,719		$	255,593		$	281,111
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,230		$	3,711		$	9,299		$	1,556		$	8,361		$	1,593		$	2,127		$	6,258
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		6,340			15,094			12,357			11,798			11,910			6,228			11,083			4,397
Total current liabilities		7,569			18,805			21,656			13,355			20,271			7,820			13,210			10,656
Tenant deposits		2,543			2,595			3,345			1,995			1,595			2,869			2,393			1,995
Mortgage payable, net		190,550			-			-			235,685			125,493			212,495			180,108			-
Operational notes, related party		-			-			6,100			23,600			13,600			15,600			9,700			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		200,661			21,400			31,101			274,635			160,960			238,784			205,411			12,651
Members’ equity (deficit)
Members’ capital		87,628			407,687			674,153			116,602			147,344			96,131			86,877			260,335
Retained earnings (accumulated deficit)		(16,653	)		(18,460	)		(40,959	)		(70,085	)		(43,005	)		(40,196	)		(36,695	)		8,126
Total members’ equity (deficit)		70,974			389,227			633,194			46,517			104,339			55,936			50,182			268,460
Total liabilities and members’ equity (deficit)	$	271,636		$	410,628		$	664,295		$	321,152		$	265,299		$	294,719		$	255,593		$	281,111

F-16

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Lallie			Lanier			Lannister			Latte			Lennox			Lierly		Lily			Limestone
ASSETS
Current assets:
Cash	$	2,470		$	3,071		$	1,669		$	10,183		$	3,976		$	15,035	$	3,546		$	5,001
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		4,045			5,936			4,853			289			2,014			35		8,861			3,252
Due from (to) third party property managers		467			4,925			3,440			5,661			4,003			2,961		5,221			4,514
Total current assets		6,982			13,932			9,962			16,132			9,993			18,031		17,627			12,768
Property and equipment, net		339,366			352,176			164,459			338,233			194,206			188,939		482,065			263,586
Total assets	$	346,348		$	366,108		$	174,420		$	354,365		$	204,200		$	206,971	$	499,692		$	276,354
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,085		$	1,272		$	1,227		$	3,909		$	1,178		$	6,776	$	154		$	1,547
Due to third party property managers		-			-			-			-			-			-		-			-
Due to (from) related parties		22,900			7,045			5,365			23,271			3,221			5,830		10,965			6,468
Total current liabilities		24,985			8,317			6,592			27,180			4,399			12,606		11,118			8,015
Tenant deposits		-			2,195			1,395			2,195			1,795			1,750		2,395			2,095
Mortgage payable, net		237,774			261,459			112,755			-			137,889			129,968		308,799			201,011
Operational notes, related party		57,200			11,800			18,700			-			9,700			-		64,000			21,400
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		319,959			283,771			139,442			29,375			153,783			144,324		386,313			232,521
Members’ equity (deficit)
Members’ capital		121,831			127,962			75,447			347,300			71,977			59,740		206,882			105,235
Retained earnings (accumulated deficit)		(95,442	)		(45,625	)		(40,469	)		(22,310	)		(21,561	)		2,907		(93,502	)		(61,402	)
Total members’ equity (deficit)		26,389			82,337			34,979			324,990			50,417			62,647		113,380			43,832
Total liabilities and members’ equity (deficit)	$	346,348		$	366,108		$	174,420		$	354,365		$	204,200		$	206,971	$	499,692		$	276,354

F-17

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Litton			Longwoods			Lookout			Loretta			Louis		Louise			Lovejoy			Luna
ASSETS
Current assets:
Cash	$	13,148		$	10,619		$	10,350		$	14,250		$	16,644	$	5,843		$	4,311		$	4,068
Other receivables		-			-			-			-			-		-			-			-
Prepaid expenses		223			(0	)		104			630			562		4,310			4,247			1,921
Due from (to) third party property managers		4,761			3,822			3,077			9,165			6,866		4,810			2,942			3,750
Total current assets		18,133			14,441			13,532			24,045			24,072		14,963			11,499			9,739
Property and equipment, net		300,650			256,661			319,258			636,489			256,581		253,859			270,296			192,678
Total assets	$	318,783		$	271,101		$	332,790		$	660,533		$	280,653	$	268,823		$	281,795		$	202,417
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,445		$	4,240		$	1,819		$	9,470		$	2,925	$	1,170		$	1,423		$	1,707
Due to third party property managers		-			-			-			-			-		-			-			-
Due to (from) related parties		7,188			3,728			11,682			11,886			3,588		8,200			6,491			4,191
Total current liabilities		9,634			7,967			13,501			21,356			6,513		9,370			7,914			5,897
Tenant deposits		2,545			1,995			2,245			6,390			1,895		1,895			1,995			1,895
Mortgage payable, net		158,067			-			-			-			-		180,114			203,073			148,056
Operational notes, related party		-			-			-			6,200			-		-			12,300			17,800
Due to commonly controlled entity		-			-			-			-			-		-			-			-
Total liabilities		170,245			9,962			15,746			33,946			8,408		191,379			225,281			173,649
Members’ equity (deficit)
Members’ capital		166,960			271,421			320,072			651,490			270,342		94,007			92,915			61,247
Retained earnings (accumulated deficit)		(18,422	)		(10,282	)		(3,028	)		(24,902	)		1,903		(16,564	)		(36,401	)		(32,478	)
Total members’ equity (deficit)		148,538			261,139			317,044			626,588			272,245		77,443			56,514			28,769
Total liabilities and members’ equity (deficit)	$	318,783		$	271,101		$	332,790		$	660,533		$	280,653	$	268,823		$	281,795		$	202,417

F-18

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Lurleen			Madison			Mae			Magnolia			Malbec			Mammoth			Marcelo			Marie
ASSETS
Current assets:
Cash	$	31		$	6,471		$	6,919		$	6,103		$	6,412		$	4,385		$	8,730		$	18,149
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		216			2,711			397			3,244			2,986			5,822			-			105
Due from (to) third party property managers		1,608			4,910			7,066			5,103			4,520			4,827			3,709			5,231
Total current assets		1,855			14,092			14,382			14,450			13,918			15,034			12,439			23,485
Property and equipment, net		211,259			190,395			328,315			234,472			285,270			313,933			264,658			300,219
Total assets	$	213,115		$	204,486		$	342,697		$	248,922		$	299,188		$	328,967		$	277,098		$	323,704
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,281		$	1,224		$	5,097		$	1,289		$	1,177		$	1,487		$	2,635		$	1,758
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		6,147			5,893			6,278			5,699			10,567			9,675			5,172			4,995
Total current liabilities		9,427			7,117			11,375			6,988			11,745			11,162			7,807			6,753
Tenant deposits		-			2,174			4,190			3,290			2,295			2,095			1,945			2,745
Mortgage payable, net		108,625			99,988			-			171,199			205,101			235,740			-			-
Operational notes, related party		7,100			15,900			-			23,800			-			44,300			-			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		125,152			125,178			15,565			205,277			219,141			293,296			9,752			9,498
Members’ equity (deficit)
Members’ capital		121,895			113,534			334,617			88,373			94,992			118,575			273,812			296,585
Retained earnings (accumulated deficit)		(33,932	)		(34,227	)		(7,485	)		(44,728	)		(14,945	)		(82,905	)		(6,466	)		17,622
Total members’ equity (deficit)		87,962			79,308			327,132			43,645			80,047			35,670			267,346			314,206
Total liabilities and members’ equity (deficit)	$	213,115		$	204,486		$	342,697		$	248,922		$	299,188		$	328,967		$	277,098		$	323,704

F-19

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Marietta			Marion			Marple			Martell			Mary		Matchingham			McGregor			McLovin
ASSETS
Current assets:
Cash	$	2,786		$	7,591		$	3,895		$	7,620		$	13,841	$	2,530		$	4,832		$	16,374
Other receivables		-			-			-			-			-		-			-			-
Prepaid expenses		4,406			1,169			(0	)		-			481		2,381			(0	)		7,130
Due from (to) third party property managers		4,399			4,093			3,153			3,817			4,122		4,191			4,095			6,449
Total current assets		11,592			12,853			7,048			11,437			18,444		9,101			8,927			29,954
Property and equipment, net		281,231			250,158			167,222			247,674			258,774		191,104			277,525			493,234
Total assets	$	292,823		$	263,011		$	174,270		$	259,111		$	277,218	$	200,206		$	286,452		$	523,188
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,307		$	3,248		$	1,757		$	3,040		$	1,831	$	1,618		$	3,779		$	4,649
Due to third party property managers		-			-			-			-			-		-			-			-
Due to (from) related parties		6,598			4,601			2,632			4,931			3,615		5,826			11,686			14,966
Total current liabilities		7,904			7,849			4,389			7,970			5,447		7,445			15,465			19,615
Tenant deposits		2,195			2,295			1,943			1,945			2,095		1,795			1,895			3,495
Mortgage payable, net		148,668			-			-			-			-		144,742			-			364,403
Operational notes, related party		18,900			5,800			-			6,200			-		-			-			20,900
Due to commonly controlled entity		-			-			-			-			-		-			-			-
Total liabilities		177,667			15,944			6,331			16,115			7,542		153,981			17,360			408,413
Members’ equity (deficit)
Members’ capital		170,351			263,347			184,073			266,482			263,738		59,106			280,534			161,534
Retained earnings (accumulated deficit)		(55,195	)		(16,280	)		(16,134	)		(23,486	)		5,938		(12,882	)		(11,442	)		(46,759	)
Total members’ equity (deficit)		115,156			247,067			167,939			242,996			269,676		46,224			269,092			114,775
Total liabilities and members’ equity (deficit)	$	292,823		$	263,011		$	174,270		$	259,111		$	277,218	$	200,206		$	286,452		$	523,188

F-20

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Meadow			Mimosa			Mojave			Murphy			Mycroft			Nugget			Odessa			Olive
ASSETS
Current assets:
Cash	$	4,726		$	5,824		$	18,076		$	4,240		$	12,187		$	4,377		$	20,388		$	3,570
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,877			81			2,270			4,004			(0	)		-			7,283			3,389
Due from (to) third party property managers		2,786			4,319			3,870			4,364			3,030			6,156			4,926			7,145
Total current assets		11,390			10,224			24,215			12,608			15,217			10,533			32,597			14,105
Property and equipment, net		289,474			197,964			217,940			269,033			171,010			518,027			482,021			209,797
Total assets	$	300,863		$	208,189		$	242,155		$	281,642		$	186,227		$	528,560		$	514,618		$	223,901
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,292		$	2,301		$	7,949		$	2,573		$	1,908		$	6,903		$	4,786		$	1,377
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		9,650			8,031			11,735			9,595			2,681			20,291			14,744			6,409
Total current liabilities		10,942			10,332			19,684			12,168			4,589			27,195			19,530			7,786
Tenant deposits		-			1,495			2,195			1,995			1,645			3,295			3,395			1,895
Mortgage payable, net		212,833			106,291			160,309			205,239			-			-			371,386			124,357
Operational notes, related party		-			-			6,900			-			-			-			41,400			19,000
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		223,775			118,117			189,088			219,402			6,234			30,490			435,712			153,038
Members’ equity (deficit)
Members’ capital		123,690			114,769			63,064			92,755			177,116			519,599			176,521			106,025
Retained earnings (accumulated deficit)		(46,602	)		(24,697	)		(9,996	)		(30,515	)		2,877			(21,529	)		(97,614	)		(35,161	)
Total members’ equity (deficit)		77,088			90,071			53,067			62,240			179,993			498,070			78,907			70,863
Total liabilities and members’ equity (deficit)	$	300,863		$	208,189		$	242,155		$	281,642		$	186,227		$	528,560		$	514,618		$	223,901

F-21

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Oly			Onyx			Oscar			Osceola			Osprey			Otoro			Palmer			Patrick
ASSETS
Current assets:
Cash	$	9,682		$	7,873		$	4,876		$	7,304		$	7,028		$	2,462		$	5,163		$	8,301
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		7,867			(0	)		752			2,196			362			4,585			509			55
Due from (to) third party property managers		5,092			2,594			1,641			2,233			2,687			10,699			496			2,563
Total current assets		22,641			10,467			7,268			11,733			10,076			17,746			6,168			10,920
Property and equipment, net		483,749			319,373			242,394			266,957			326,762			366,060			282,684			189,041
Total assets	$	506,389		$	329,840		$	249,663		$	278,690		$	336,839		$	383,806		$	288,852		$	199,961
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	-		$	3,193		$	2,566		$	6,101		$	6,024		$	1,762		$	3,210		$	5,664
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		9,901			4,229			3,216			4,864			12,622			20,731			3,707			8,628
Total current liabilities		9,901			7,422			5,782			10,965			18,646			22,493			6,917			14,292
Tenant deposits		2,995			2,295			-			-			2,295			2,319			1,895			1,595
Mortgage payable, net		365,105			-			-			-			-			271,896			-			107,906
Operational notes, related party		6,000			-			-			7,000			-			78,700			-			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		384,001			9,717			5,782			17,965			20,941			375,408			8,812			123,793
Members’ equity (deficit)
Members’ capital		163,073			325,803			259,288			296,449			339,905			131,256			297,117			86,282
Retained earnings (accumulated deficit)		(40,684	)		(5,680	)		(15,407	)		(35,725	)		(24,008	)		(122,858	)		(17,077	)		(10,115	)
Total members’ equity (deficit)		122,389			320,123			243,881			260,725			315,898			8,398			280,040			76,167
Total liabilities and members’ equity (deficit)	$	506,389		$	329,840		$	249,663		$	278,690		$	336,839		$	383,806		$	288,852		$	199,961

F-22

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Peanut			Pearl			Pecan		Peterson			Piedmont			Pinot			Pioneer			Plumtree
ASSETS
Current assets:
Cash	$	4,728		$	1,548		$	15,191	$	17,784		$	6,948		$	6,670		$	23,397		$	8,967
Other receivables		-			-			-		-			-			-			-			-
Prepaid expenses		2,623			233			31		239			5,979			3,620			47			32
Due from (to) third party property managers		5,249			-			-		1,585			4,585			4,413			6,628			4,590
Total current assets		12,600			1,781			15,222		19,607			17,512			14,704			30,072			13,588
Property and equipment, net		198,610			504,892			183,922		216,767			356,222			288,025			543,140			177,637
Total assets	$	211,210		$	506,673		$	199,144	$	236,374		$	373,734		$	302,728		$	573,212		$	191,225
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,126		$	2,713		$	5,972	$	2,592		$	1,390		$	1,179		$	25,371		$	5,860
Due to third party property managers		-			7,354			224		-			-			-			-			-
Due to (from) related parties		5,802			19,689			6,237		2,492			8,394			9,787			20,255			6,333
Total current liabilities		6,929			29,756			12,433		5,085			9,784			10,966			45,626			12,193
Tenant deposits		2,093			-			1,750		-			2,295			2,395			3,445			1,550
Mortgage payable, net		145,348			-			112,459		-			188,322			207,230			-			110,164
Operational notes, related party		-			-			-		-			-			-			-			-
Due to commonly controlled entity		-			-			-		-			-			-			-			-
Total liabilities		154,369			29,756			126,642		5,085			200,401			220,591			49,071			123,906
Members’ equity (deficit)
Members’ capital		70,835			526,530			71,185		233,380			219,091			96,040			558,130			68,636
Retained earnings (accumulated deficit)		(13,994	)		(49,613	)		1,316		(2,090	)		(45,758	)		(13,902	)		(33,989	)		(1,318	)
Total members’ equity (deficit)		56,841			476,917			72,502		231,290			173,333			82,138			524,141			67,319
Total liabilities and members’ equity (deficit)	$	211,210		$	506,673		$	199,144	$	236,374		$	373,734		$	302,728		$	573,212		$	191,225

F-23

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Point			Porthos			Quincy			Redondo			Regency			Reginald			Reynolds			Ribbonwalk
ASSETS
Current assets:
Cash	$	18,221		$	12,565		$	21,486		$	15,511		$	2,182		$	20,801		$	19,247		$	2,021
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		6,726			-			(0	)		208			711			275			491			4,165
Due from (to) third party property managers		5,874			4,585			6,639			6,738			3,971			-			5,502			1,711
Total current assets		30,821			17,151			28,126			22,457			6,864			21,076			25,240			7,896
Property and equipment, net		352,622			288,253			507,236			293,433			268,044			429,854			398,587			289,508
Total assets	$	383,443		$	305,404		$	535,362		$	315,890		$	274,908		$	450,930		$	423,827		$	297,404
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,791		$	4,772		$	10,988		$	9,430		$	3,952		$	10,958		$	4,416		$	1,411
Due to third party property managers		-			-			-			-			-			1,781			-			-
Due to (from) related parties		12,378			4,136			16,412			10,983			5,349			13,779			15,277			7,874
Total current liabilities		20,169			8,908			27,400			20,413			9,301			26,518			19,693			9,285
Tenant deposits		2,095			2,295			3,495			3,143			2,295			5,190			2,495			1,995
Mortgage payable, net		265,283			-			-			155,663			135,781			-			-			221,867
Operational notes, related party		17,600			-			27,400			11,300			5,000			53,000			-			12,000
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		305,147			11,203			58,295			190,518			152,377			84,708			22,188			245,147
Members’ equity (deficit)
Members’ capital		128,957			298,517			524,581			174,235			143,099			434,695			405,392			110,520
Retained earnings (accumulated deficit)		(50,661	)		(4,316	)		(47,514	)		(48,863	)		(20,568	)		(68,474	)		(3,753	)		(58,263	)
Total members’ equity (deficit)		78,296			294,201			477,066			125,372			122,531			366,221			401,639			52,257
Total liabilities and members’ equity (deficit)	$	383,443		$	305,404		$	535,362		$	315,890		$	274,908		$	450,930		$	423,827		$	297,404

F-24

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Richardson			Richmond			Ridge			Ritter			River			Riverwalk			Rooney			Roseberry
ASSETS
Current assets:
Cash	$	14,086		$	16,421		$	4,266		$	9,689		$	6,852		$	13,970		$	6,790		$	3,130
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		215			347			2,915			103			2,650			(0	)		5,646			5,146
Due from (to) third party property managers		3,160			5,636			4,927			4,936			4,606			5,024			4,546			7,881
Total current assets		17,461			22,403			12,108			14,729			14,109			18,995			16,982			16,157
Property and equipment, net		291,923			365,348			195,102			466,768			238,955			366,346			339,539			294,856
Total assets	$	309,383		$	387,752		$	207,210		$	481,497		$	253,065		$	385,340		$	356,521		$	311,012
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,288		$	3,827		$	1,250		$	4,291		$	1,399		$	2,010		$	1,212		$	1,792
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		5,835			3,981			8,467			20,450			8,653			14,246			7,476			9,409
Total current liabilities		11,122			7,807			9,716			24,741			10,052			16,256			8,688			11,200
Tenant deposits		1,995			3,443			2,543			2,495			2,993			2,845			2,095			3,443
Mortgage payable, net		-			-			138,533			-			170,480			-			256,637			209,220
Operational notes, related party		-			-			-			17,200			-			-			9,400			5,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		13,117			11,250			150,792			44,436			183,525			19,101			276,819			229,563
Members’ equity (deficit)
Members’ capital		302,446			391,068			72,278			494,865			85,759			376,269			120,907			103,682
Retained earnings (accumulated deficit)		(6,179	)		(14,566	)		(15,860	)		(57,804	)		(16,220	)		(10,030	)		(41,206	)		(22,232	)
Total members’ equity (deficit)		296,266			376,502			56,418			437,061			69,540			366,240			79,701			81,449
Total liabilities and members’ equity (deficit)	$	309,383		$	387,752		$	207,210		$	481,497		$	253,065		$	385,340		$	356,521		$	311,012

F-25

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Rosewood			Roxy			Saddlebred			Saint			Sajni			Salem			Salinas			Saturn
ASSETS
Current assets:
Cash	$	7,750		$	6,560		$	3,702		$	12,626		$	70,064		$	2,886		$	7,216		$	2,294
Other receivables		-			-			1,377			-			-			-			-			-
Prepaid expenses		3,031			4,703			5,764			4,368			10			4,159			-			2,740
Due from (to) third party property managers		5,453			4,413			7,597			4,695			6,254			4,380			2,634			4,681
Total current assets		16,234			15,676			18,441			21,689			76,328			11,426			9,850			9,715
Property and equipment, net		249,788			300,848			436,912			295,509			303,535			285,237			221,422			196,165
Total assets	$	266,022		$	316,524		$	455,353		$	317,198		$	379,863		$	296,663		$	231,272		$	205,881
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,176		$	1,270		$	-		$	1,162		$	47,597		$	1,213		$	2,697		$	1,175
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		5,986			6,780			9,458			7,020			29,496			16,873			4,926			7,459
Total current liabilities		7,162			8,050			9,458			8,182			77,093			18,086			7,623			8,633
Tenant deposits		2,768			1,995			3,045			2,495			2,745			2,195			1,945			1,495
Mortgage payable, net		187,061			218,350			329,662			209,918			-			208,999			-			138,181
Operational notes, related party		5,100			15,200			23,400			-			17,000			5,700			20,300			11,900
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		202,091			243,595			365,565			220,595			96,838			234,979			29,868			160,210
Members’ equity (deficit)
Members’ capital		91,408			110,600			165,707			99,732			292,415			95,869			227,846			84,156
Retained earnings (accumulated deficit)		(27,477	)		(37,670	)		(75,918	)		(3,129	)		(9,389	)		(34,185	)		(26,442	)		(38,485	)
Total members’ equity (deficit)		63,931			72,930			89,789			96,603			283,025			61,684			201,404			45,671
Total liabilities and members’ equity (deficit)	$	266,022		$	316,524		$	455,353		$	317,198		$	379,863		$	296,663		$	231,272		$	205,881

F-26

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Scepter			Sequoyah			Shallowford			Shoreline			Sigma			Simon		Sims			Soapstone
ASSETS
Current assets:
Cash	$	17,220		$	6,587		$	6,639		$	6,976		$	9,161		$	16,190	$	13,096		$	11,187
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		4,041			257			5,127			2,786			4,764			470		478			-
Due from (to) third party property managers		3,408			3,828			8,253			5,623			3,867			2,513		4,516			4,117
Total current assets		24,669			10,673			20,019			15,384			17,792			19,174		18,091			15,304
Property and equipment, net		247,826			236,068			335,089			278,430			349,474			276,354		259,932			202,648
Total assets	$	272,495		$	246,741		$	355,108		$	293,814		$	367,266		$	295,528	$	278,023		$	217,951
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,846		$	6,215		$	1,632		$	1,616		$	1,586		$	2,325	$	3,091		$	6,157
Due to third party property managers		-			-			-			-			-			-		-			-
Due to (from) related parties		11,398			5,652			11,329			5,167			8,957			3,920		3,887			6,069
Total current liabilities		19,244			11,867			12,962			6,783			10,543			6,245		6,978			12,226
Tenant deposits		2,195			2,295			2,345			2,295			2,869			2,095		2,768			2,350
Mortgage payable, net		187,097			122,502			177,031			210,037			267,052			-		-			127,122
Operational notes, related party		6,800			17,200			8,600			16,600			-			-		-			6,900
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		215,336			153,864			200,937			235,715			280,464			8,340		9,745			148,598
Members’ equity (deficit)
Members’ capital		90,761			137,491			202,601			94,976			118,339			286,339		273,373			70,343
Retained earnings (accumulated deficit)		(33,602	)		(44,613	)		(48,430	)		(36,877	)		(31,537	)		849		(5,094	)		(990	)
Total members’ equity (deficit)		57,159			92,878			154,171			58,099			86,802			287,188		268,278			69,354
Total liabilities and members’ equity (deficit)	$	272,495		$	246,741		$	355,108		$	293,814		$	367,266		$	295,528	$	278,023		$	217,951

F-27

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Sodalis			Spencer			Splash			Spring			Stonebriar			Sugar			Summerset			Sundance
ASSETS
Current assets:
Cash	$	1,494		$	4,560		$	9,335		$	3,261		$	6,918		$	3,486		$	5,758		$	6,806
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		52			2,226			150			139			3,530			4,994			2,178			178
Due from (to) third party property managers		2,891			7,744			3,170			231			3,327			5,556			5,774			12,260
Total current assets		4,437			14,530			12,655			3,631			13,776			14,035			13,710			19,244
Property and equipment, net		268,627			269,431			192,706			229,594			187,198			279,213			238,836			298,802
Total assets	$	273,064		$	283,961		$	205,361		$	233,226		$	200,973		$	293,249		$	252,546		$	318,046
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,107		$	2,466		$	5,248		$	3,993		$	1,409		$	1,477		$	1,553		$	12,338
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		1,663			6,244			6,012			4,805			4,867			6,606			5,197			11,940
Total current liabilities		8,770			8,710			11,260			8,797			6,276			8,082			6,750			24,279
Tenant deposits		-			2,349			1,550			1,695			1,395			3,590			2,843			2,595
Mortgage payable, net		-			192,668			122,075			-			132,827			199,104			163,670			155,663
Operational notes, related party		8,500			9,400			8,200			-			16,000			6,000			24,500			6,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		17,270			213,127			143,085			10,492			156,499			216,776			197,763			189,236
Members’ equity (deficit)
Members’ capital		283,349			94,206			73,894			235,793			72,516			118,764			87,721			172,074
Retained earnings (accumulated deficit)		(27,555	)		(23,372	)		(11,618	)		(13,060	)		(28,041	)		(42,291	)		(32,938	)		(43,264	)
Total members’ equity (deficit)		255,794			70,834			62,276			222,733			44,475			76,473			54,783			128,810
Total liabilities and members’ equity (deficit)	$	273,064		$	283,961		$	205,361		$	233,226		$	200,973		$	293,249		$	252,546		$	318,046

F-28

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Sunnyside		Swift			Taylor			Terracotta			Theodore			Tulip			Tuscan			Tuscarora
ASSETS
Current assets:
Cash	$	14,544	$	20,567		$	982		$	14,437		$	13,379		$	6,138		$	17,256		$	10,684
Other receivables		-		-			-			-			-			-			-			-
Prepaid expenses		219		(0	)		2,788			4,288			470			3,571			454			110
Due from (to) third party property managers		3,338		4,981			1,379			3,178			2,395			5,033			-			8,576
Total current assets		18,100		25,548			5,149			21,903			16,244			14,742			17,711			19,370
Property and equipment, net		208,192		319,504			215,368			296,416			274,298			292,326			287,690			314,315
Total assets	$	226,293	$	345,052		$	220,517		$	318,319		$	290,541		$	307,068		$	305,401		$	333,685
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,028	$	17,485		$	1,204		$	7,607		$	2,314		$	1,383		$	7,647		$	4,234
Due to third party property managers		-		-			-			-			-			-			1,276			-
Due to (from) related parties		3,618		12,681			6,290			11,305			3,640			6,993			8,495			5,228
Total current liabilities		5,647		30,167			7,494			18,911			5,955			8,377			17,417			9,462
Tenant deposits		1,845		2,195			-			1,745			2,245			2,195			2,295			-
Mortgage payable, net		-		-			112,230			220,449			-			219,747			180,926			-
Operational notes, related party		-		-			11,100			32,400			-			24,300			-			-
Due to commonly controlled entity		-		-			-			-			-			-			-			-
Total liabilities		7,492		32,362			130,823			273,506			8,200			254,619			200,638			9,462
Members’ equity (deficit)
Members’ capital		212,319		323,798			135,743			110,578			287,585			103,520			112,703			325,027
Retained earnings (accumulated deficit)		6,482		(11,108	)		(46,048	)		(65,764	)		(5,243	)		(51,071	)		(7,940	)		(804	)
Total members’ equity (deficit)		218,801		312,690			89,694			44,814			282,342			52,449			104,763			324,224
Total liabilities and members’ equity (deficit)	$	226,293	$	345,052		$	220,517		$	318,319		$	290,541		$	307,068		$	305,401		$	333,685

F-29

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Tuxford			Vernon			Walton			Wave			Weldon			Wellington			Wentworth			Wescott
ASSETS
Current assets:
Cash	$	4,526		$	4,029		$	10,947		$	3,735		$	4,085		$	6,960		$	8,805		$	4,719
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,954			3,393			81			4,063			2,656			-			2,568			1,025
Due from (to) third party property managers		2,380			5,253			3,609			9,064			4,041			6,793			3,500			5,258
Total current assets		10,861			12,675			14,638			16,862			10,783			13,754			14,873			11,001
Property and equipment, net		240,697			235,626			278,315			307,489			190,515			379,759			210,877			253,526
Total assets	$	251,557		$	248,301		$	292,953		$	324,351		$	201,297		$	393,512		$	225,750		$	264,527
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,315		$	1,453		$	7,521		$	1,765		$	1,100		$	4,924		$	1,122		$	1,287
Due to third party property managers		-			-			-			-			-			-			-			-
Due to (from) related parties		7,871			5,679			12,247			10,523			7,626			7,180			6,163			10,224
Total current liabilities		9,186			7,131			19,769			12,288			8,726			12,104			7,286			11,511
Tenant deposits		1,895			2,843			1,895			2,195			2,168			2,395			1,595			3,440
Mortgage payable, net		176,643			179,974			-			221,840			134,948			-			155,275			133,132
Operational notes, related party		25,800			7,400			29,000			94,200			-			-			-			20,800
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		213,524			197,347			50,664			330,523			145,842			14,499			164,155			168,883
Members’ equity (deficit)
Members’ capital		92,643			83,776			291,174			112,224			80,160			394,745			64,103			144,879
Retained earnings (accumulated deficit)		(54,609	)		(32,822	)		(48,885	)		(118,396	)		(24,705	)		(15,732	)		(2,508	)		(49,234	)
Total members’ equity (deficit)		38,033			50,953			242,289			(6,172	)		55,455			379,013			61,595			95,644
Total liabilities and members’ equity (deficit)	$	251,557		$	248,301		$	292,953		$	324,351		$	201,297		$	393,512		$	225,750		$	264,527

F-30

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Westchester			Wildwood			Willow			Wilson			Winchester
ASSETS
Current assets:
Cash	$	4,222		$	8,167		$	1,336		$	8,937		$	5,906
Other receivables		-			-			-			-			-
Prepaid expenses		3,983			2,847			222			61			426
Due from (to) third party property managers		3,060			4,204			3,452			4,590			2,789
Total current assets		11,265			15,218			5,010			13,588			9,122
Property and equipment, net		306,076			203,609			271,586			358,010			257,131
Total assets	$	317,340		$	218,827		$	276,597		$	371,598		$	266,253
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,604		$	1,110		$	4,425		$	7,420		$	3,468
Due to third party property managers		-			-			-			-			-
Due to (from) related parties		8,126			6,604			5,579			7,248			2,873
Total current liabilities		9,731			7,714			10,004			14,667			6,341
Tenant deposits		3,119			1,945			1,545			2,445			1,895
Mortgage payable, net		196,526			107,361			-			-			-
Operational notes, related party		16,600			-			-			-			-
Due to commonly controlled entity		-			-			-			-			-
Total liabilities		225,976			117,020			11,549			17,112			8,236
Members’ equity (deficit)
Members’ capital		140,211			112,936			278,945			362,567			272,060
Retained earnings (accumulated deficit)		(48,846	)		(11,129	)		(13,897	)		(8,081	)		(14,044	)
Total members’ equity (deficit)		91,365			101,807			265,048			354,486			258,016
Total liabilities and members’ equity (deficit)	$	317,340		$	218,827		$	276,597		$	371,598		$	266,253

F-31

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Windsor			Winston			Wisteria			Unallocated members capital			Consolidated
ASSETS
Current assets:
Cash	$	18,700		$	10,761		$	7,939		$	-		$	2,304,110
Other receivables		-			-			-			-			1,377
Prepaid expenses		4,371			213			3,412			-			493,703
Due from (to) third party property managers		5,356			5,001			5,131			-			1,075,930
Total current assets		28,428			15,976			16,483			-			3,875,119
Property and equipment, net		314,329			305,810			278,377			-			71,178,521
Total assets	$	342,756		$	321,786		$	294,859		$	-		$	75,053,640
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	9,029		$	3,226		$	1,300		$	-		$	909,063
Due to third party property managers		-			-			-			-			16,196
Due to (from) related parties		13,232			5,896			5,699			-			2,068,570
Total current liabilities		22,261			9,122			6,999			-			2,993,829
Tenant deposits		2,595			1,795			3,143			-			528,168
Mortgage payable, net		224,878			-			205,420			-			23,729,820
Operational notes, related party		48,300			-			9,300			-			2,354,400
Due to commonly controlled entity		-			-			-			179,235			179,235
Total liabilities		298,034			10,917			224,862			179,235			29,785,452
Members’ equity (deficit)
Members’ capital		114,006			318,898			96,096			(42,205	)		52,104,007
Retained earnings (accumulated deficit)		(69,284	)		(8,028	)		(26,098	)		(137,030	)		(6,835,819	)
Total members’ equity (deficit)		44,722			310,869			69,997			(179,235	)		45,268,188
Total liabilities and members’ equity (deficit)	$	342,756		$	321,786		$	294,859		$	-		$	75,053,640

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

F-32

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)
AS OF DECEMBER 31, 2024

	100			101			Abbington			Abernant			Alvin		Amber			Apollo			Aster
ASSETS
Current assets:
Cash	$	14,219		$	4,848		$	10,672		$	12,076		$	26,090	$	3,964		$	1,694		$	5,281
Other receivables		-			-			-			-			-		-			-			-
Prepaid expenses		662			665			764			555			781		3,109			3,152			2,564
Due from (to) third party property managers		102			5,803			8,601			3,489			1,559		3,734			4,316			3,783
Total current assets		14,983			11,316			20,037			16,120			28,430		10,807			9,162			11,628
Property and equipment, net		575,664			595,785			454,162			221,276			309,375		280,333			195,299			240,476
Total assets	$	590,647		$	607,102		$	474,200		$	237,396		$	337,806	$	291,140		$	204,461		$	252,103
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	6,905		$	5,654		$	6,723		$	2,895		$	6,261	$	2,679		$	1,569		$	1,708
Tenant deposits		-			3,095			2,845			1,745			2,545		1,950			1,345			2,245
Due to (from) related parties		17,813			19,046			14,398			1,358			2,019		4,504			2,784			3,674
Total current liabilities		24,718			27,795			23,966			5,998			10,824		9,133			5,699			7,627
Mortgage payables, net		-			-			-			-			-		198,818			133,320			124,448
Operational notes, related party		-			17,900			-			-			-		6,900			20,000			9,700
Due to commonly controlled entity		-			-			-			-			-		-			-			-
Total liabilities		24,718			45,695			23,966			5,998			10,824		214,851			159,018			141,774
Members’ equity (deficit)
Members’ capital		584,173			630,298			464,920			240,972			325,421		111,583			71,017			148,761
Retained earnings (accumulated deficit)		(18,244	)		(68,891	)		(14,687	)		(9,574	)		1,560		(35,295	)		(25,574	)		(38,432	)
Total members’ equity (deficit)		565,929			561,406			450,233			231,398			326,981		76,289			45,443			110,329
Total liabilities and members’ equity (deficit)	$	590,647		$	607,102		$	474,200		$	237,396		$	337,806	$	291,140		$	204,461		$	252,103

F-33

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)
AS OF DECEMBER 31, 2024

	Augusta			Avebury			Avondale			Badminton			Ballinger			Bandelier			Baron			Basil
ASSETS
Current assets:
Cash	$	19,643		$	3,606		$	6,934		$	5,085		$	12,717		$	6,425		$	13,820		$	6,984
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		912			2,404			471			2,281			414			4,370			800			2,164
Due from (to) third party property managers		3,905			4,320			3,977			4,789			4,838			3,529			2,062			3,700
Total current assets		24,460			10,330			11,381			12,155			17,970			14,324			16,682			12,848
Property and equipment, net		286,622			271,005			318,137			237,551			293,005			323,643			542,706			184,273
Total assets	$	311,082		$	281,335		$	329,519		$	249,706		$	310,975		$	337,967		$	559,388		$	197,121
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,995		$	1,747		$	2,576		$	1,967		$	4,882		$	1,551		$	8,820		$	1,842
Tenant deposits		1,995			1,795			1,995			2,195			2,320			2,245			3,345			1,595
Due to (from) related parties		2,711			4,186			3,314			3,709			1,986			4,759			16,903			3,151
Total current liabilities		7,702			7,728			7,885			7,871			9,189			8,555			29,068			6,588
Mortgage payables, net		-			200,942			-			172,006			-			242,616			-			129,806
Operational notes, related party		-			5,400			-			17,300			-			-			-			9,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		7,702			214,070			7,885			197,176			9,189			251,171			29,068			146,093
Members’ equity (deficit)
Members’ capital		307,126			95,183			339,751			78,514			309,281			119,179			552,801			63,701
Retained earnings (accumulated deficit)		(3,745	)		(27,918	)		(18,118	)		(25,985	)		(7,495	)		(32,384	)		(22,481	)		(12,674	)
Total members’ equity (deficit)		303,380			67,265			321,633			52,529			301,786			86,796			530,319			51,027
Total liabilities and members’ equity (deficit)	$	311,082		$	281,335		$	329,519		$	249,706		$	310,975		$	337,967		$	559,388		$	197,121

F-34

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)
AS OF DECEMBER 31, 2024

	Bayside			Bazzel			Bedford			Bella			Belle			Belvedere		Bergenia		Blossom
ASSETS
Current assets:
Cash	$	4,921		$	7,449		$	3,820		$	6,160		$	6,393		$	16,602	$	15,462	$	7,063
Other receivables		-			-			-			-			-			-		-		-
Prepaid expenses		4,634			1,366			3,460			916			1,398			524		346		502
Due from (to) third party property managers		4,173			3,704			519			2,868			4,888			4,549		3,425		3,281
Total current assets		13,728			12,519			7,799			9,944			12,679			21,675		19,233		10,845
Property and equipment, net		233,527			251,160			261,618			296,522			413,881			284,951		211,029		239,996
Total assets	$	247,254		$	263,679		$	269,418		$	306,466		$	426,560		$	306,626	$	230,262	$	250,842
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,150		$	7,393		$	1,505		$	4,498		$	2,434		$	2,770	$	2,898	$	4,829
Tenant deposits		2,619			1,845			2,295			1,945			2,649			2,295		1,845		1,845
Due to (from) related parties		3,784			7,288			10,701			6,605			6,454			3,030		1,788		3,338
Total current liabilities		8,552			16,526			14,501			13,048			11,536			8,095		6,532		10,011
Mortgage payables, net		163,623			-			194,570			-			-			-		-		-
Operational notes, related party		10,000			21,700			-			-			23,600			-		-		7,400
Due to commonly controlled entity		-			-			-			-			-			-		-		-
Total liabilities		182,176			38,226			209,071			13,048			35,136			8,095		6,532		17,411
Members’ equity (deficit)
Members’ capital		86,632			250,601			90,397			317,941			432,714			296,472		223,079		256,305
Retained earnings (accumulated deficit)		(21,554	)		(25,148	)		(30,050	)		(24,522	)		(41,290	)		2,060		651		(22,875	)
Total members’ equity (deficit)		65,078			225,453			60,346			293,418			391,424			298,531		223,730		233,430
Total liabilities and members’ equity (deficit)	$	247,254		$	263,679		$	269,418		$	306,466		$	426,560		$	306,626	$	230,262	$	250,842

F-35

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Bonneau			Brainerd			Braxton			Brennan			Briarwood			Brooklyn			Burlington			Butter
ASSETS
Current assets:
Cash	$	5,771		$	17,919		$	6,295		$	4,049		$	15,889		$	4,299		$	5,097		$	5,879
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		1,271			672			839			3,532			586			506			2,349			5,455
Due from (to) third party property managers		4,568			4,812			3,605			5,085			3,387			3,535			5,494			8,779
Total current assets		11,611			23,403			10,738			12,666			19,861			8,340			12,940			20,113
Property and equipment, net		319,096			276,412			304,942			212,325			203,029			161,399			609,252			348,556
Total assets	$	330,707		$	299,815		$	315,681		$	224,991		$	222,890		$	169,738		$	622,192		$	368,669
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	10,180		$	5,806		$	2,575		$	1,947		$	3,931		$	1,818		$	8,914		$	2,446
Tenant deposits		2,295			2,595			2,045			1,545			1,995			1,249			3,195			2,795
Due to (from) related parties		8,221			3,489			4,433			2,363			1,367			2,057			23,193			5,048
Total current liabilities		20,696			11,890			9,053			5,855			7,292			5,124			35,302			10,289
Mortgage payables, net		-			142,885			-			153,947			-			81,790			-			259,985
Operational notes, related party		-			-			10,700			35,200			-			13,100			-			24,200
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		20,696			154,776			19,753			195,001			7,292			100,014			35,302			294,474
Members’ equity (deficit)
Members’ capital		330,505			152,880			313,277			84,906			222,164			96,287			617,909			116,033
Retained earnings (accumulated deficit)		(20,494	)		(7,840	)		(17,349	)		(54,916	)		(6,566	)		(26,563	)		(31,019	)		(41,837	)
Total members’ equity (deficit)		310,011			145,040			295,928			29,990			215,598			69,725			586,890			74,196
Total liabilities and members’ equity (deficit)	$	330,707		$	299,815		$	315,681		$	224,991		$	222,890		$	169,738		$	622,192		$	368,669

F-36

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Calvin			Camino			Cawley		Centennial			Chaparral			Chelsea			Chester			Chickamauga
ASSETS
Current assets:
Cash	$	20,020		$	7,713		$	17,482	$	-		$	9,712		$	8,741		$	10,082		$	18,721
Other receivables		-			-			-		-			-			-			-			-
Prepaid expenses		464			360			1,014		-			353			3,509			3,849			1,074
Due from (to) third party property managers		3,620			2,221			3,951		-			3,320			3,745			6,242			5,817
Total current assets		24,104			10,293			22,447		-			13,384			15,995			20,173			25,612
Property and equipment, net		229,346			249,631			303,986		-			176,114			287,195			349,439			354,657
Total assets	$	253,450		$	259,924		$	326,433	$	-		$	189,498		$	303,190		$	369,612		$	380,269
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,159		$	2,419		$	3,531	$	-		$	5,998		$	3,062		$	1,966		$	6,321
Tenant deposits		1,795			1,595			2,195		-			1,695			1,895			3,943			3,693
Due to (from) related parties		1,514			3,462			3,037		-			4,061			3,381			4,967			4,699
Total current liabilities		8,468			7,475			8,763		-			11,754			8,338			10,875			14,713
Mortgage payables, net		-			-			-		-			103,349			213,349			181,865			-
Operational notes, related party		-			-			-		-			-			-			-			-
Due to commonly controlled entity		-			-			-		-			-			-			-			-
Total liabilities		8,468			7,475			8,763		-			115,103			221,687			192,741			14,713
Members’ equity (deficit)
Members’ capital		246,377			257,191			316,113		(42,205	)		74,649			99,165			208,244			361,199
Retained earnings (accumulated deficit)		(1,396	)		(4,742	)		1,557		42,205			(254	)		(17,661	)		(31,373	)		4,357
Total members’ equity (deficit)		244,981			252,448			317,670		-			74,394			81,503			176,872			365,556
Total liabilities and members’ equity (deficit)	$	253,450		$	259,924		$	326,433	$	-		$	189,498		$	303,190		$	369,612		$	380,269

F-37

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Chinook			Chitwood			Clover			Coatbridge			Collier			Collinston			Conway			Cove
ASSETS
Current assets:
Cash	$	6,864		$	13,968		$	3,654		$	4,367		$	5,342		$	1,002		$	6,782		$	2,682
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		1,161			479			756			2,989			479			2,015			1,330			630
Due from (to) third party property managers		4,166			5,009			6,111			3,447			4,633			5,927			6,583			7,277
Total current assets		12,191			19,456			10,521			10,803			10,454			8,945			14,696			10,589
Property and equipment, net		300,550			359,975			311,203			252,996			334,188			193,420			646,284			202,300
Total assets	$	312,742		$	379,431		$	321,724		$	263,799		$	344,643		$	202,365		$	660,980		$	212,889
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,339		$	8,972		$	2,696		$	2,052		$	3,792		$	1,778		$	7,901		$	1,443
Tenant deposits		1,995			2,795			1,995			3,143			2,445			1,595			3,645			1,695
Due to (from) related parties		2,677			5,638			14,196			4,042			12,951			4,756			9,946			4,115
Total current liabilities		8,011			17,405			18,887			9,236			19,188			8,128			21,492			7,252
Mortgage payables, net		-			-			-			173,287			-			134,919			-			-
Operational notes, related party		5,200			-			-			25,400			-			29,400			11,800			18,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		13,211			17,405			18,887			207,923			19,188			172,447			33,292			25,952
Members’ equity (deficit)
Members’ capital		315,340			366,559			312,983			97,440			333,813			82,897			670,024			220,661
Retained earnings (accumulated deficit)		(15,809	)		(4,533	)		(10,146	)		(41,564	)		(8,359	)		(52,978	)		(42,336	)		(33,725	)
Total members’ equity (deficit)		299,531			362,026			302,837			55,876			325,455			29,918			627,687			186,936
Total liabilities and members’ equity (deficit)	$	312,742		$	379,431		$	321,724		$	263,799		$	344,643		$	202,365		$	660,980		$	212,889

F-38

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Creekside		Creekwood			Cumberland			Cupcake			Cypress			Daisy			Davidson			Dawson
ASSETS
Current assets:
Cash	$	10,948	$	9,400		$	10,567		$	8,611		$	4,137		$	6,204		$	1,690		$	3,807
Other receivables		-		-			-			-			-			-			-			-
Prepaid expenses		520		4,075			576			1,886			8,906			481			3,377			3,417
Due from (to) third party property managers		4,190		3,895			3,690			3,270			5,086			3,505			1,535			3,837
Total current assets		15,658		17,371			14,833			13,767			18,129			10,190			6,601			11,061
Property and equipment, net		292,652		272,288			278,720			207,979			344,386			283,453			194,082			208,863
Total assets	$	308,310	$	289,659		$	293,553		$	221,747		$	362,515		$	293,642		$	200,684		$	219,924
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	6,191	$	1,720		$	5,129		$	2,027		$	2,410		$	5,359		$	1,753		$	1,732
Tenant deposits		2,395		1,795			2,145			1,595			2,395			1,695			1,495			1,745
Due to (from) related parties		4,537		3,780			4,409			3,642			8,675			4,899			2,826			3,432
Total current liabilities		13,123		7,295			11,682			7,264			13,480			11,953			6,074			6,908
Mortgage payables, net		-		141,379			-			150,160			179,203			-			145,343			144,296
Operational notes, related party		-		-			-			-			-			-			14,600			23,900
Due to commonly controlled entity		-		-			-			-			-			-			-			-
Total liabilities		13,123		148,674			11,682			157,425			192,683			11,953			166,017			175,104
Members’ equity (deficit)
Members’ capital		289,869		165,143			285,755			65,530			205,695			287,909			71,290			81,451
Retained earnings (accumulated deficit)		5,318		(24,158	)		(3,884	)		(1,207	)		(35,863	)		(6,220	)		(36,623	)		(36,632	)
Total members’ equity (deficit)		295,187		140,985			281,871			64,322			169,832			281,689			34,667			44,820
Total liabilities and members’ equity (deficit)	$	308,310	$	289,659		$	293,553		$	221,747		$	362,515		$	293,642		$	200,684		$	219,924

F-39

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Delta			Dewberry			Diablo			Dogwood			Dolittle			Dolly			Dops			Dorchester
ASSETS
Current assets:
Cash	$	3,316		$	1,707		$	5,138		$	8,906		$	5,223		$	7,104		$	5,867		$	5,646
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		4,773			1,776			3,782			692			3,623			961			467			1,753
Due from (to) third party property managers		4,049			5,274			5,277			1,362			341			7,369			3,045			1,525
Total current assets		12,138			8,757			14,198			10,960			9,187			15,434			9,379			8,925
Property and equipment, net		324,379			172,911			277,769			226,120			282,244			649,032			194,963			323,793
Total assets	$	336,517		$	181,668		$	291,967		$	237,080		$	291,431		$	664,466		$	204,342		$	332,718
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,990		$	1,421		$	4,466		$	2,955		$	2,649		$	7,423		$	1,371		$	11,289
Tenant deposits		2,195			1,695			2,145			1,750			2,295			3,995			1,495			2,195
Due to (from) related parties		5,923			4,066			4,400			6,658			4,275			11,793			2,384			11,238
Total current liabilities		10,108			7,182			11,011			11,363			9,218			23,211			5,250			24,721
Mortgage payables, net		224,587			119,497			205,822			-			205,508			-			-			-
Operational notes, related party		95,700			18,500			28,300			-			6,300			-			-			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		330,395			145,179			245,132			11,363			221,026			23,211			5,250			24,721
Members’ equity (deficit)
Members’ capital		118,650			69,064			98,540			230,377			98,711			679,924			203,384			342,741
Retained earnings (accumulated deficit)		(112,528	)		(32,574	)		(51,705	)		(4,660	)		(28,306	)		(38,669	)		(4,292	)		(34,745	)
Total members’ equity (deficit)		6,122			36,489			46,835			225,717			70,405			641,255			199,092			307,996
Total liabilities and members’ equity (deficit)	$	336,517		$	181,668		$	291,967		$	237,080		$	291,431		$	664,466		$	204,342		$	332,718

F-40

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Dunbar			Eagle			Eastfair			Eastwood			Elevation			Ella			Ellen			Elm
ASSETS
Current assets:
Cash	$	426		$	13,114		$	4,031		$	12,167		$	1,609		$	8,722		$	22,186		$	3,599
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		447			3,476			4,268			753			2,906			518			734			3,375
Due from (to) third party property managers		7,068			4,015			4,005			4,269			5,628			906			3,401			4,696
Total current assets		7,941			20,606			12,304			17,189			10,143			10,147			26,321			11,669
Property and equipment, net		313,068			261,146			195,634			310,133			252,465			249,878			240,524			151,093
Total assets	$	321,009		$	281,752		$	207,937		$	327,322		$	262,608		$	260,025		$	266,845		$	162,762
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	3,353		$	2,309		$	1,418		$	5,904		$	1,795		$	4,798		$	5,830		$	1,963
Tenant deposits		2,495			1,995			1,949			2,395			1,895			1,995			2,693			1,495
Due to (from) related parties		10,485			3,697			4,903			2,050			6,352			2,602			2,015			2,524
Total current liabilities		16,333			8,000			8,270			10,349			10,042			9,395			10,537			5,981
Mortgage payables, net		-			131,818			148,019			-			170,446			-			-			105,868
Operational notes, related party		41,000			-			17,500			-			55,100			-			-			12,400
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		57,333			139,819			173,789			10,349			235,588			9,395			10,537			124,250
Members’ equity (deficit)
Members’ capital		322,376			145,260			59,630			339,255			101,398			262,470			258,163			59,174
Retained earnings (accumulated deficit)		(58,700	)		(3,328	)		(25,482	)		(22,282	)		(74,378	)		(11,840	)		(1,854	)		(20,662	)
Total members’ equity (deficit)		263,676			141,933			34,148			316,973			27,020			250,630			256,308			38,512
Total liabilities and members’ equity (deficit)	$	321,009		$	281,752		$	207,937		$	327,322		$	262,608		$	260,025		$	266,845		$	162,762

F-41

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Emporia			Ensenada			Falcon			Felix			Fenwick			Fletcher		Folly			Forest
ASSETS
Current assets:
Cash	$	5,187		$	5,455		$	9,362		$	7,195		$	6,766		$	16,718	$	6,899		$	6,769
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		4,157			5,781			3,571			622			952			277		1,345			5,730
Due from (to) third party property managers		1,116			6,470			3,937			3,872			3,246			4,335		4,904			15,199
Total current assets		10,460			17,706			16,870			11,689			10,964			21,329		13,148			27,698
Property and equipment, net		327,028			518,995			261,818			245,121			289,780			170,437		297,864			328,982
Total assets	$	337,488		$	536,701		$	278,688		$	256,811		$	300,744		$	191,767	$	311,012		$	356,680
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,185		$	(587	)	$	2,570		$	2,941		$	2,476		$	2,175	$	8,803		$	2,297
Tenant deposits		2,495			3,195			2,345			2,393			1,850			1,395		2,695			2,445
Due to (from) related parties		5,021			9,840			3,409			1,901			(351	)		1,094		9,221			5,159
Total current liabilities		9,701			12,447			8,324			7,234			3,976			4,664		20,719			9,901
Mortgage payables, net		242,664			388,700			131,809			-			-			-		-			225,330
Operational notes, related party		15,700			10,700			-			-			-			-		6,600			60,400
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		268,065			411,847			140,132			7,234			3,976			4,664		27,319			295,631
Members’ equity (deficit)
Members’ capital		118,276			184,372			146,011			253,695			309,397			187,094		308,675			134,412
Retained earnings (accumulated deficit)		(48,853	)		(59,519	)		(7,455	)		(4,119	)		(12,629	)		8		(24,982	)		(73,364	)
Total members’ equity (deficit)		69,423			124,854			138,556			249,576			296,768			187,102		283,693			61,048
Total liabilities and members’ equity (deficit)	$	337,488		$	536,701		$	278,688		$	256,811		$	300,744		$	191,767	$	311,012		$	356,680

F-42

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Foster		Franklin			Gardens			General			Goose			Grant			Greenhill			Gretal
ASSETS
Current assets:
Cash	$	22,788	$	11,854		$	4,183		$	9,492		$	11,278		$	6,958		$	5,904		$	18,017
Other receivables		-		-			-			-			-			-			-			-
Prepaid expenses		410		985			1,932			869			3,510			4,759			4,322			711
Due from (to) third party property managers		4,670		4,017			4,256			4,668			2,747			4,657			5,323			4,838
Total current assets		27,868		16,856			10,371			15,029			17,535			16,374			15,549			23,565
Property and equipment, net		302,923		293,074			210,555			306,116			243,367			346,126			303,446			426,914
Total assets	$	330,791	$	309,931		$	220,925		$	321,145		$	260,902		$	362,500		$	318,995		$	450,479
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	7,863	$	9,665		$	2,136		$	5,366		$	2,285		$	2,164		$	2,194		$	6,129
Tenant deposits		2,349		2,595			1,595			2,495			1,895			-			3,119			2,395
Due to (from) related parties		2,913		2,603			3,170			2,779			3,302			4,840			8,663			5,665
Total current liabilities		13,126		14,863			6,901			10,640			7,482			7,003			13,976			14,189
Mortgage payables, net		-		-			134,889			-			122,739			256,592			225,565			-
Operational notes, related party		-		-			11,000			-			-			-			-			-
Due to commonly controlled entity		-		-			-			-			-			-			-			-
Total liabilities		13,126		14,863			152,790			10,640			130,221			263,595			239,541			14,189
Members’ equity (deficit)
Members’ capital		316,374		310,765			86,092			323,949			134,914			122,739			98,384			449,556
Retained earnings (accumulated deficit)		1,291		(15,698	)		(17,956	)		(13,444	)		(4,233	)		(23,834	)		(18,930	)		(13,266	)
Total members’ equity (deficit)		317,665		295,067			68,136			310,505			130,681			98,905			79,454			436,291
Total liabilities and members’ equity (deficit)	$	330,791	$	309,931		$	220,925		$	321,145		$	260,902		$	362,500		$	318,995		$	450,479

F-43

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Grove			Hadden			Hansard		Hansel			Hargrave			Harrison			Henry			Heritage
ASSETS
Current assets:
Cash	$	2,003		$	3,675		$	18,918	$	4,001		$	12,446		$	14,150		$	5,077		$	7,302
Other receivables		-			-			-		-			-			-			-			-
Prepaid expenses		3,032			3,153			660		5,341			464			4,630			686			4,671
Due from (to) third party property managers		4,057			3,812			4,666		5,064			2,880			5,677			1,442			4,245
Total current assets		9,093			10,640			24,244		14,407			15,790			24,456			7,205			16,218
Property and equipment, net		217,615			204,796			289,052		382,958			226,956			431,885			404,943			275,216
Total assets	$	226,707		$	215,436		$	313,296	$	397,365		$	242,746		$	456,341		$	412,148		$	291,434
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,552		$	1,371		$	5,893	$	1,895		$	5,030		$	3,851		$	4,084		$	1,423
Tenant deposits		1,869			1,645			2,450		3,003			3,190			3,045			2,395			1,995
Due to (from) related parties		4,229			3,707			3,318		6,909			1,100			6,039			5,792			3,954
Total current liabilities		7,650			6,723			11,661		11,807			9,320			12,935			12,271			7,372
Mortgage payables, net		155,746			141,851			-		197,578			-			225,051			-			200,929
Operational notes, related party		11,100			-			-		16,200			-			-			49,500			19,300
Due to commonly controlled entity		-			-			-		-			-			-			-			-
Total liabilities		174,496			148,574			11,661		225,585			9,320			237,987			61,771			227,601
Members’ equity (deficit)
Members’ capital		81,372			80,789			295,324		225,386			251,079			245,813			415,466			99,307
Retained earnings (accumulated deficit)		(29,161	)		(13,927	)		6,311		(53,606	)		(17,654	)		(27,458	)		(65,088	)		(35,474	)
Total members’ equity (deficit)		52,212			66,862			301,635		171,780			233,425			218,355			350,378			63,833
Total liabilities and members’ equity (deficit)	$	226,707		$	215,436		$	313,296	$	397,365		$	242,746		$	456,341		$	412,148		$	291,434

F-44

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Heron			Highland			Hines			Hobbes			Holcomb			Holland			Hollandaise			Holloway
ASSETS
Current assets:
Cash	$	6,112		$	5,332		$	106		$	10,734		$	12,761		$	2,840		$	3,549		$	6,286
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,893			404			292			464			434			3,294			4,384			3,625
Due from (to) third party property managers		5,107			2,664			2,889			3,547			2,573			4,668			10,633			5,023
Total current assets		15,112			8,400			3,287			14,744			15,768			10,802			18,566			14,934
Property and equipment, net		271,465			270,028			246,115			227,252			333,265			193,598			341,081			309,247
Total assets	$	286,577		$	278,428		$	249,402		$	241,997		$	349,033		$	204,399		$	359,647		$	324,181
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,370		$	5,849		$	3,386		$	5,319		$	4,310		$	1,573		$	1,948		$	2,003
Tenant deposits		2,369			-			1,845			2,393			2,095			2,168			1,895			3,119
Due to (from) related parties		6,189			3,724			9,229			1,435			10,678			5,206			5,999			5,026
Total current liabilities		10,927			9,573			14,460			9,147			17,083			8,946			9,842			10,148
Mortgage payables, net		198,843			-			-			-			-			145,348			253,086			218,393
Operational notes, related party		7,100			-			-			-			-			-			13,200			9,900
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		216,870			9,573			14,460			9,147			17,083			154,295			276,127			238,441
Members’ equity (deficit)
Members’ capital		99,250			272,280			251,890			250,279			344,800			81,714			134,225			117,355
Retained earnings (accumulated deficit)		(29,543	)		(3,425	)		(16,949	)		(17,429	)		(12,849	)		(31,610	)		(50,706	)		(31,615	)
Total members’ equity (deficit)		69,707			268,855			234,942			232,850			331,950			50,105			83,519			85,740
Total liabilities and members’ equity (deficit)	$	286,577		$	278,428		$	249,402		$	241,997		$	349,033		$	204,399		$	359,647		$	324,181

F-45

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Inglewood			Irene			Jack			Jake			Jefferson		Jill			Johnny			June
ASSETS
Current assets:
Cash	$	10,103		$	17,882		$	1,571		$	5,636		$	17,605	$	7,824		$	7,839		$	4,951
Other receivables		-			-			-			-			-		-			-			-
Prepaid expenses		1,753			488			4,916			1,229			1,277		6,684			811			812
Due from (to) third party property managers		6,482			2,740			5,041			7,280			4,744		4,461			6,015			3,098
Total current assets		18,338			21,110			11,528			14,145			23,626		18,968			14,665			8,861
Property and equipment, net		640,898			170,437			391,556			553,020			261,716		378,245			551,194			551,194
Total assets	$	659,236		$	191,548		$	403,084		$	567,165		$	285,342	$	397,213		$	565,859		$	560,055
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	8,695		$	3,427		$	1,397		$	8,929		$	5,359	$	2,068		$	6,769		$	10,192
Tenant deposits		3,445			1,395			3,143			2,995			2,595		2,195			2,995			2,945
Due to (from) related parties		8,935			1,139			7,293			17,675			3,061		4,544			17,006			16,679
Total current liabilities		21,075			5,961			11,832			29,599			11,015		8,807			26,769			29,816
Mortgage payables, net		-			-			286,974			-			-		196,902			-			-
Operational notes, related party		-			-			9,600			14,800			-		-			19,200			9,300
Due to commonly controlled entity		-			-			-			-			-		-			-			-
Total liabilities		21,075			5,961			308,407			44,399			11,015		205,709			45,969			39,116
Members’ equity (deficit)
Members’ capital		674,075			186,133			144,715			578,700			267,982		220,502			570,461			576,837
Retained earnings (accumulated deficit)		(35,913	)		(547	)		(50,037	)		(55,934	)		6,346		(28,998	)		(50,571	)		(55,898	)
Total members’ equity (deficit)		638,161			185,586			94,678			522,766			274,328		191,504			519,889			520,939
Total liabilities and members’ equity (deficit)	$	659,236		$	191,548		$	403,084		$	567,165		$	285,342	$	397,213		$	565,859		$	560,055

F-46

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Jupiter			Kawana			Kennesaw			Kenny			KerriAnn			Kessler			Kingsley			Kirkwood
ASSETS
Current assets:
Cash	$	6,961		$	9,329		$	10,695		$	7,269		$	1,987		$	2,283		$	7,981		$	1,311
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		2,343			3,730			868			973			2,919			2,466			658			4,111
Due from (to) third party property managers		3,467			4,733			3,101			6,331			5,502			-			3,227			6,656
Total current assets		12,770			17,791			14,665			14,572			10,408			4,750			11,866			12,079
Property and equipment, net		193,416			256,799			399,798			649,032			313,036			246,253			286,793			251,575
Total assets	$	206,186		$	274,590		$	414,463		$	663,604		$	323,444		$	251,002		$	298,659		$	263,654
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,810		$	2,082		$	2,825		$	7,507		$	1,889		$	2,816		$	2,009		$	2,350
Tenant deposits		1,550			2,543			2,595			3,345			1,995			-			2,869			2,393
Due to (from) related parties		3,280			3,834			12,374			10,019			5,894			9,676			4,245			4,722
Total current liabilities		6,640			8,458			17,794			20,871			9,778			12,493			9,122			9,464
Mortgage payables, net		138,146			190,513			-			-			235,641			125,438			212,446			180,073
Operational notes, related party		6,900			-			-			-			23,600			-			15,600			9,700
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		151,686			198,971			17,794			20,871			269,019			137,931			237,169			199,238
Members’ equity (deficit)
Members’ capital		80,957			90,801			415,345			684,974			117,262			147,788			96,586			88,079
Retained earnings (accumulated deficit)		(26,457	)		(15,182	)		(18,676	)		(42,241	)		(62,837	)		(34,716	)		(35,096	)		(23,663	)
Total members’ equity (deficit)		54,500			75,619			396,669			642,733			54,425			113,071			61,490			64,416
Total liabilities and members’ equity (deficit)	$	206,186		$	274,590		$	414,463		$	663,604		$	323,444		$	251,002		$	298,659		$	263,654

F-47

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Korin		Lallie			Lanier			Lannister			Latte			Lennox			Lierly		Lily
ASSETS
Current assets:
Cash	$	15,433	$	5,901		$	6,484		$	1,504		$	7,920		$	3,680		$	12,250	$	7,504
Other receivables		-		-			-			-			-			-			-		-
Prepaid expenses		362		3,517			5,241			4,549			936			1,879			414		8,246
Due from (to) third party property managers		3,881		5,177			2,264			3,181			747			3,780			3,530		5,510
Total current assets		19,677		14,594			13,988			9,234			9,604			9,339			16,194		21,259
Property and equipment, net		264,681		345,569			357,882			167,486			343,244			197,184			191,871		489,558
Total assets	$	284,357	$	360,163		$	371,870		$	176,720		$	352,848		$	206,524		$	208,065	$	510,817
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	6,258	$	1,889		$	1,667		$	1,734		$	1,371		$	1,938		$	6,394	$	132
Tenant deposits		1,995		2,295			-			1,395			-			1,795			1,750		2,395
Due to (from) related parties		3,258		5,730			4,823			3,496			10,489			3,256			3,702		7,755
Total current liabilities		11,511		9,914			6,490			6,625			11,860			6,988			11,846		10,281
Mortgage payables, net		-		237,722			261,413			112,704			-			137,853			129,936		308,748
Operational notes, related party		-		57,200			11,800			18,700			-			9,700			-		64,000
Due to commonly controlled entity		-		-			-			-			-			-			-		-
Total liabilities		11,511		304,836			279,703			138,029			11,860			154,542			141,781		383,029
Members’ equity (deficit)
Members’ capital		268,373		121,831			128,754			76,536			349,273			74,191			63,976		208,084
Retained earnings (accumulated deficit)		4,473		(66,504	)		(36,588	)		(37,844	)		(8,285	)		(22,209	)		2,308		(80,296	)
Total members’ equity (deficit)		272,847		55,327			92,166			38,691			340,988			51,982			66,284		127,788
Total liabilities and members’ equity (deficit)	$	284,357	$	360,163		$	371,870		$	176,720		$	352,848		$	206,524		$	208,065	$	510,817

F-48

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Limestone			Litton			Longwoods			Lookout			Loretta			Louis		Louise			Lovejoy
ASSETS
Current assets:
Cash	$	6,065		$	13,102		$	12,962		$	12,269		$	7,031		$	18,130	$	4,541		$	4,669
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		2,830			659			1,254			502			1,340			886		3,884			3,580
Due from (to) third party property managers		3,725			4,686			3,952			1,301			3,518			6,745		4,384			2,541
Total current assets		12,620			18,447			18,168			14,072			11,889			25,762		12,808			10,790
Property and equipment, net		267,609			305,063			260,363			324,000			645,919			260,282		257,648			274,340
Total assets	$	280,229		$	323,510		$	278,531		$	338,072		$	657,809		$	286,043	$	270,456		$	285,130
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,322		$	4,836		$	7,790		$	4,223		$	5,307		$	3,316	$	1,742		$	2,230
Tenant deposits		2,095			2,545			1,995			2,245			-			1,895		1,895			1,995
Due to (from) related parties		4,261			4,003			2,609			9,553			14,824			2,337		5,855			4,262
Total current liabilities		8,678			11,384			12,395			16,021			20,130			7,548		9,492			8,487
Mortgage payables, net		200,974			157,667			-			-			-			-		180,079			203,034
Operational notes, related party		21,400			-			-			-			-			-		-			12,300
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		231,052			169,051			12,395			16,021			20,130			7,548		189,571			223,822
Members’ equity (deficit)
Members’ capital		106,002			171,860			277,011			325,512			655,141			277,440		96,455			95,047
Retained earnings (accumulated deficit)		(56,825	)		(17,401	)		(10,875	)		(3,461	)		(17,463	)		1,056		(15,570	)		(33,739	)
Total members’ equity (deficit)		49,177			154,459			266,136			322,051			637,678			278,495		80,885			61,308
Total liabilities and members’ equity (deficit)	$	280,229		$	323,510		$	278,531		$	338,072		$	657,809		$	286,043	$	270,456		$	285,130

F-49

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Luna			Lurleen			Madison			Mae			Magnolia			Malbec			Mammoth			Marcelo
ASSETS
Current assets:
Cash	$	4,217		$	1,792		$	5,617		$	10,408		$	6,885		$	5,920		$	3,385		$	7,477
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		1,841			783			2,337			950			2,806			2,377			4,921			336
Due from (to) third party property managers		3,556			3,711			4,891			6,858			4,198			4,520			4,738			3,618
Total current assets		9,615			6,287			12,845			18,216			13,889			12,818			13,044			11,431
Property and equipment, net		195,634			215,308			193,222			333,179			238,626			289,658			318,618			268,570
Total assets	$	205,248		$	221,594		$	206,067		$	351,396		$	252,514		$	302,475		$	331,662		$	280,000
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,363		$	2,121		$	1,537		$	10,369		$	1,435		$	1,963		$	1,725		$	2,722
Tenant deposits		1,895			1,695			2,174			4,190			3,290			2,295			2,095			1,945
Due to (from) related parties		3,086			2,533			3,840			4,862			3,455			7,931			5,802			3,983
Total current liabilities		7,344			6,349			7,550			19,421			8,180			12,190			9,622			8,650
Mortgage payables, net		148,019			108,350			99,941			-			171,128			205,034			235,697			-
Operational notes, related party		17,800			7,100			15,900			-			23,800			-			44,300			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		173,162			121,799			123,391			19,421			203,108			217,224			289,619			8,650
Members’ equity (deficit)
Members’ capital		62,997			122,325			115,263			339,489			88,617			97,775			118,575			279,890
Retained earnings (accumulated deficit)		(30,911	)		(22,529	)		(32,587	)		(7,514	)		(39,211	)		(12,523	)		(76,533	)		(8,540	)
Total members’ equity (deficit)		32,086			99,796			82,675			331,975			49,406			85,252			42,043			271,350
Total liabilities and members’ equity (deficit)	$	205,248		$	221,594		$	206,067		$	351,396		$	252,514		$	302,475		$	331,662		$	280,000

F-50

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Marie		Marietta			Marion			Marple			Martell			Mary		Matchingham			McGregor
ASSETS
Current assets:
Cash	$	21,404	$	4,505		$	3,900		$	4,534		$	3,557		$	15,993	$	6,184		$	6,890
Other receivables		-		-			-			-			-			-		-			-
Prepaid expenses		616		3,882			2,096			277			898			883		2,072			416
Due from (to) third party property managers		5,115		4,407			3,967			-			3,805			4,226		4,049			4,120
Total current assets		27,135		12,794			9,963			4,811			8,261			21,102		12,305			11,426
Property and equipment, net		304,617		285,389			254,770			169,633			251,246			262,506		194,017			281,657
Total assets	$	331,752	$	298,183		$	264,733		$	174,444		$	259,507		$	283,609	$	206,322		$	293,082
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,291	$	1,422		$	2,711		$	1,812		$	2,485		$	4,852	$	2,561		$	6,931
Tenant deposits		2,745		2,195			2,295			-			1,945			2,095		1,795			1,895
Due to (from) related parties		3,569		4,187			8,007			1,610			8,660			2,357		3,920			9,607
Total current liabilities		11,605		7,804			13,013			3,422			13,090			9,304		8,276			18,433
Mortgage payables, net		-		148,605			-			-			-			-		144,711			-
Operational notes, related party		-		18,900			-			-			-			-		-			-
Due to commonly controlled entity		-		-			-			-			-			-		-			-
Total liabilities		11,605		175,308			13,013			3,422			13,090			9,304		152,987			18,433
Members’ equity (deficit)
Members’ capital		307,839		170,613			268,032			186,584			271,776			271,612		61,698			284,878
Retained earnings (accumulated deficit)		12,308		(47,738	)		(16,312	)		(15,562	)		(25,359	)		2,692		(8,362	)		(10,228	)
Total members’ equity (deficit)		320,147		122,875			251,720			171,022			246,417			274,304		53,335			274,650
Total liabilities and members’ equity (deficit)	$	331,752	$	298,183		$	264,733		$	174,444		$	259,507		$	283,609	$	206,322		$	293,082

F-51

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	McLovin			Meadow			Mimosa			Mojave			Murphy			Mycroft		Nugget			Odessa
ASSETS
Current assets:
Cash	$	6,004		$	3,595		$	2,486		$	2,210		$	4,252		$	13,827	$	7,300		$	6,061
Other receivables		-			-			-			-			-			-		-			-
Prepaid expenses		6,157			3,236			416			1,823			3,493			304		753			6,172
Due from (to) third party property managers		6,521			1,352			1,716			3,870			3,818			3,080		6,079			6,332
Total current assets		18,682			8,182			4,618			7,903			11,563			17,212		14,132			18,565
Property and equipment, net		489,481			293,884			200,918			221,465			273,119			173,476		525,721			489,353
Total assets	$	508,162		$	302,066		$	205,537		$	229,367		$	284,682		$	190,688	$	539,853		$	507,919
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	(1,273	)	$	1,616		$	2,279		$	1,869		$	2,956		$	3,130	$	11,841		$	(1,107	)
Tenant deposits		3,495			-			1,495			2,195			1,995			1,645		3,295			3,395
Due to (from) related parties		9,335			5,013			2,839			7,936			7,472			1,797		18,978			9,268
Total current liabilities		11,556			6,629			6,613			12,001			12,423			6,572		34,114			11,556
Mortgage payables, net		364,344			212,794			106,022			160,242			205,200			-		-			371,327
Operational notes, related party		8,300			-			-			-			-			-		-			35,100
Due to commonly controlled entity		-			-			-			-			-			-		-			-
Total liabilities		384,201			219,423			112,635			172,243			217,623			6,572		34,114			417,983
Members’ equity (deficit)
Members’ capital		163,948			125,471			116,028			65,388			94,216			183,344		525,716			178,379
Retained earnings (accumulated deficit)		(39,986	)		(42,828	)		(23,126	)		(8,264	)		(27,158	)		771		(19,977	)		(88,444	)
Total members’ equity (deficit)		123,962			82,643			92,902			57,124			67,058			184,116		505,739			89,936
Total liabilities and members’ equity (deficit)	$	508,162		$	302,066		$	205,537		$	229,367		$	284,682		$	190,688	$	539,853		$	507,919

F-52

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Olive			Oly			Onyx			Oscar			Osceola			Osprey			Otoro			Palmer
ASSETS
Current assets:
Cash	$	4,215		$	7,918		$	5,934		$	3,177		$	6,913		$	9,493		$	1,310		$	6,345
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,170			5,720			522			1,040			3,906			1,363			3,980			948
Due from (to) third party property managers		6,977			5,389			4,490			5,323			3,584			2,448			3,365			3,827
Total current assets		14,361			19,028			10,946			9,540			14,404			13,304			8,655			11,119
Property and equipment, net		213,486			490,013			325,381			246,412			270,808			332,252			372,144			287,270
Total assets	$	227,847		$	509,041		$	336,327		$	255,953		$	285,211		$	345,556		$	380,799		$	298,389
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,194		$	(356	)	$	5,152		$	1,671		$	3,271		$	11,264		$	1,991		$	2,799
Tenant deposits		1,895			2,995			2,295			3,390			1,695			2,295			2,319			1,895
Due to (from) related parties		4,248			11,799			2,590			4,278			2,356			10,201			7,133			5,553
Total current liabilities		8,337			14,438			10,037			9,339			7,322			23,760			11,443			10,246
Mortgage payables, net		124,324			365,046			-			-			-			-			271,849			-
Operational notes, related party		19,000			-			-			-			7,000			-			78,700			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		151,660			379,484			10,037			9,339			14,322			23,760			361,993			10,246
Members’ equity (deficit)
Members’ capital		107,212			165,693			331,490			261,736			296,449			343,894			131,900			302,774
Retained earnings (accumulated deficit)		(31,026	)		(36,136	)		(5,200	)		(15,122	)		(25,560	)		(22,098	)		(113,093	)		(14,631	)
Total members’ equity (deficit)		76,187			129,557			326,290			246,614			270,889			321,796			18,807			288,143
Total liabilities and members’ equity (deficit)	$	227,847		$	509,041		$	336,327		$	255,953		$	285,211		$	345,556		$	380,799		$	298,389

F-53

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Patrick			Peanut			Pearl			Pecan		Peterson			Piedmont			Pinot			Pioneer
ASSETS
Current assets:
Cash	$	6,535		$	6,822		$	6,421		$	12,097	$	16,634		$	9,652		$	7,603		$	7,993
Other receivables		-			-			-			-		-			-			-			-
Prepaid expenses		389			2,265			785			380		582			4,913			3,064			796
Due from (to) third party property managers		1,867			3,798			3,892			3,455		3,299			4,239			4,720			6,660
Total current assets		8,791			12,884			11,097			15,932		20,514			18,804			15,386			15,449
Property and equipment, net		192,559			201,575			512,390			186,784		219,871			361,494			292,454			551,258
Total assets	$	201,350		$	214,459		$	523,488		$	202,716	$	240,385		$	380,299		$	307,840		$	566,707
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,717		$	1,811		$	6,519		$	5,987	$	3,025		$	2,015		$	2,038		$	11,132
Tenant deposits		1,595			2,093			2,945			1,750		1,595			2,295			2,395			3,445
Due to (from) related parties		6,987			3,846			16,454			4,150		1,360			5,253			7,321			20,324
Total current liabilities		14,300			7,749			25,918			11,887		5,979			9,563			11,753			34,901
Mortgage payables, net		107,895			145,317			-			112,448		-			188,245			207,162			-
Operational notes, related party		-			-			-			-		-			-			-			-
Due to commonly controlled entity		-			-			-			-		-			-			-			-
Total liabilities		122,195			153,067			25,918			124,335		5,979			197,808			218,915			34,901
Members’ equity (deficit)
Members’ capital		88,386			72,469			526,530			74,927		238,666			220,380			98,928			566,533
Retained earnings (accumulated deficit)		(9,231	)		(11,077	)		(28,960	)		3,454		(4,260	)		(37,890	)		(10,003	)		(34,727	)
Total members’ equity (deficit)		79,155			61,392			497,570			78,381		234,406			182,490			88,925			531,806
Total liabilities and members’ equity (deficit)	$	201,350		$	214,459		$	523,488		$	202,716	$	240,385		$	380,299		$	307,840		$	566,707

F-54

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Plumtree		Point			Porthos			Quincy			Redondo			Regency			Reginald			Reynolds
ASSETS
Current assets:
Cash	$	10,009	$	4,225		$	14,714		$	7,047		$	4,546		$	14,652		$	3,677		$	16,194
Other receivables		-		-			-			-			-			-			-			-
Prepaid expenses		352		6,022			1,695			675			606			1,170			1,052			1,089
Due from (to) third party property managers		4,590		5,689			4,509			6,383			2,567			6,035			-			4,970
Total current assets		14,951		15,937			20,917			14,104			7,718			21,857			4,729			22,252
Property and equipment, net		180,404		357,872			292,401			514,751			297,741			262,827			433,339			404,492
Total assets	$	195,355	$	373,809		$	313,318		$	528,855		$	305,459		$	284,684		$	438,068		$	426,744
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,936	$	1,999		$	8,612		$	8,698		$	4,740		$	7,169		$	16,546		$	2,795
Tenant deposits		1,550		2,095			2,295			3,495			3,143			3,793			-			2,495
Due to (from) related parties		4,207		6,304			2,030			7,686			10,688			3,083			6,047			12,415
Total current liabilities		11,694		10,397			12,937			19,879			18,570			14,044			22,593			17,705
Mortgage payables, net		110,136		265,237			-			-			155,269			135,437			-			-
Operational notes, related party		-		11,100			-			20,800			-			-			31,000			-
Due to commonly controlled entity		-		-			-			-			-			-			-			-
Total liabilities		121,830		286,734			12,937			40,679			173,839			149,482			53,593			17,705
Members’ equity (deficit)
Members’ capital		71,879		129,770			305,520			531,906			176,031			145,294			436,892			413,887
Retained earnings (accumulated deficit)		1,646		(42,696	)		(5,139	)		(43,730	)		(44,411	)		(10,091	)		(52,418	)		(4,847	)
Total members’ equity (deficit)		73,525		87,075			300,381			488,176			131,621			135,203			384,474			409,040
Total liabilities and members’ equity (deficit)	$	195,355	$	373,809		$	313,318		$	528,855		$	305,459		$	284,684		$	438,068		$	426,744

F-55

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Ribbonwalk			Richardson			Richmond			Ridge			Ritter			River			Riverwalk			Rooney
ASSETS
Current assets:
Cash	$	7,225		$	13,581		$	16,627		$	4,424		$	7,416		$	4,648		$	14,359		$	7,631
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		3,611			569			843			2,537			910			2,540			465			4,881
Due from (to) third party property managers		1,759			3,531			5,019			4,425			4,883			7,498			6,370			4,684
Total current assets		12,595			17,680			22,489			11,386			13,209			14,687			21,193			17,197
Property and equipment, net		293,903			296,244			370,580			198,094			473,701			242,617			371,773			343,961
Total assets	$	306,498		$	313,924		$	393,069		$	209,480		$	486,909		$	257,304		$	392,966		$	361,158
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,708		$	5,957		$	5,402		$	1,995		$	6,492		$	2,205		$	5,571		$	2,193
Tenant deposits		1,995			1,995			3,443			2,543			2,495			2,993			3,993			2,095
Due to (from) related parties		4,315			4,255			2,150			6,291			14,732			7,397			11,685			4,987
Total current liabilities		8,018			12,207			10,995			10,829			23,719			12,594			21,249			9,275
Mortgage payables, net		221,827			-			-			138,497			-			170,446			-			256,592
Operational notes, related party		12,000			-			-			-			17,200			-			-			9,400
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		241,844			12,207			10,995			149,326			40,919			183,041			21,249			275,267
Members’ equity (deficit)
Members’ capital		111,574			307,254			398,949			74,046			502,049			88,146			380,510			123,718
Retained earnings (accumulated deficit)		(46,920	)		(5,536	)		(16,875	)		(13,892	)		(56,059	)		(13,882	)		(8,793	)		(37,827	)
Total members’ equity (deficit)		64,654			301,717			382,074			60,154			445,991			74,263			371,717			85,891
Total liabilities and members’ equity (deficit)	$	306,498		$	313,924		$	393,069		$	209,480		$	486,909		$	257,304		$	392,966		$	361,158

F-56

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)
AS OF DECEMBER 31, 2024

	Roseberry			Rosewood			Roxy			Saddlebred			Saint			Sajni			Salem			Salinas
ASSETS
Current assets:
Cash	$	2,382		$	6,677		$	6,359		$	7,936		$	12,217		$	6,044		$	2,035		$	5,932
Other receivables		-			-			-			1,377			-			-			-			-
Prepaid expenses		5,096			2,546			3,833			4,465			3,739			1,865			3,550			288
Due from (to) third party property managers		7,560			5,305			4,395			8,626			4,680			4,344			-			3,585
Total current assets		15,038			14,527			14,587			22,403			20,635			12,254			5,585			9,806
Property and equipment, net		299,368			253,507			305,327			444,551			299,300			296,520			289,625			225,461
Total assets	$	314,406		$	268,034		$	319,913		$	466,954		$	319,936		$	308,774		$	295,210		$	235,266
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,686		$	1,819		$	1,928		$	(128	)	$	2,391		$	1,440		$	1,805		$	4,137
Tenant deposits		3,443			2,768			1,995			4,168			2,495			2,745			-			1,945
Due to (from) related parties		4,961			3,729			3,967			6,305			4,524			3,613			10,111			2,618
Total current liabilities		10,090			8,316			7,890			10,344			9,410			7,798			11,916			8,700
Mortgage payables, net		209,181			187,025			218,310			329,608			209,879			-			208,930			-
Operational notes, related party		5,700			5,100			15,200			23,400			-			11,000			-			20,300
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		224,971			200,441			241,400			363,352			219,289			18,798			220,846			29,000
Members’ equity (deficit)
Members’ capital		104,311			93,533			112,118			166,577			104,476			297,561			96,122			233,064
Retained earnings (accumulated deficit)		(14,875	)		(25,940	)		(33,604	)		(62,974	)		(3,830	)		(7,585	)		(21,758	)		(26,797	)
Total members’ equity (deficit)		89,436			67,594			78,514			103,603			100,647			289,976			74,364			206,266
Total liabilities and members’ equity (deficit)	$	314,406		$	268,034		$	319,913		$	466,954		$	319,936		$	308,774		$	295,210		$	235,266

F-57

ARRIVED HOMES, LLC AND ITS SERIES
CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)
AS OF DECEMBER 31, 2024

	Saturn			Scepter			Sequoyah			Shallowford			Shoreline			Sigma			Simon		Sims
ASSETS
Current assets:
Cash	$	3,172		$	3,385		$	3,513		$	3,698		$	7,940		$	8,321		$	17,998	$	12,444
Other receivables		-			-			-			-			-			-			-		-
Prepaid expenses		2,372			3,545			587			4,417			2,672			4,021			885		879
Due from (to) third party property managers		1,432			-			4,095			4,503			3,993			3,751			4,063		4,568
Total current assets		6,976			6,929			8,194			12,618			14,605			16,093			22,947		17,891
Property and equipment, net		199,797			251,064			239,973			340,047			282,690			354,714			280,331		263,681
Total assets	$	206,773		$	257,993		$	248,167		$	352,665		$	297,295		$	370,807		$	303,277	$	281,572
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,403		$	1,904		$	5,627		$	2,117		$	2,364		$	2,517		$	5,575	$	3,061
Tenant deposits		1,495			-			2,295			2,345			2,295			2,869			2,095		2,768
Due to (from) related parties		3,286			5,162			3,170			4,822			4,197			4,881			2,655		2,748
Total current liabilities		6,184			7,066			11,092			9,284			8,856			10,267			10,324		8,577
Mortgage payables, net		138,151			187,061			122,192			176,958			210,001			267,006			-		-
Operational notes, related party		11,900			-			17,200			8,600			16,600			-			-		-
Due to commonly controlled entity		-			-			-			-			-			-			-		-
Total liabilities		156,236			194,127			150,483			194,841			235,457			277,273			10,324		8,577
Members’ equity (deficit)
Members’ capital		85,149			92,271			140,166			203,842			96,589			120,280			291,759		279,766
Retained earnings (accumulated deficit)		(34,612	)		(28,404	)		(42,482	)		(46,018	)		(34,750	)		(26,746	)		1,194		(6,770	)
Total members’ equity (deficit)		50,537			63,866			97,684			157,824			61,839			93,534			292,953		272,996
Total liabilities and members’ equity (deficit)	$	206,773		$	257,993		$	248,167		$	352,665		$	297,295		$	370,807		$	303,277	$	281,572

F-58

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Soapstone			Sodalis			Spencer			Splash			Spring			Stonebriar			Sugar			Summerset
ASSETS
Current assets:
Cash	$	6,932		$	6,783		$	7,027		$	6,893		$	5,343		$	7,013		$	3,972		$	5,299
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		401			471			2,732			466			451			2,722			4,577			2,358
Due from (to) third party property managers		4,180			3,727			4,811			3,170			3,601			2,942			5,726			6,738
Total current assets		11,513			10,981			14,570			10,529			9,395			12,677			14,276			14,396
Property and equipment, net		206,765			272,607			273,588			195,684			232,996			189,985			283,493			243,894
Total assets	$	218,279		$	283,587		$	288,157		$	206,213		$	242,391		$	202,662		$	297,768		$	258,289
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,829		$	7,257		$	3,099		$	5,143		$	7,847		$	1,879		$	1,723		$	2,345
Tenant deposits		2,350			-			2,349			1,550			1,695			1,395			3,590			2,843
Due to (from) related parties		3,845			7,983			4,522			3,850			4,463			2,816			9,541			4,007
Total current liabilities		12,024			15,240			9,970			10,543			14,005			6,090			14,855			9,195
Mortgage payables, net		127,090			-			192,623			122,064			-			132,798			199,058			163,630
Operational notes, related party		6,900			-			9,400			8,200			-			16,000			-			24,500
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		146,014			15,240			211,993			140,807			14,005			154,888			213,912			197,325
Members’ equity (deficit)
Members’ capital		73,474			284,350			97,189			77,147			238,802			73,907			120,027			89,891
Retained earnings (accumulated deficit)		(1,209	)		(16,003	)		(21,024	)		(11,741	)		(10,415	)		(26,133	)		(36,171	)		(28,927	)
Total members’ equity (deficit)		72,265			268,347			76,164			65,406			228,386			47,774			83,856			60,964
Total liabilities and members’ equity (deficit)	$	218,279		$	283,587		$	288,157		$	206,213		$	242,391		$	202,662		$	297,768		$	258,289

F-59

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Sundance			Sunnyside		Swift			Taylor			Terracotta			Theodore			Tulip			Tuscan
ASSETS
Current assets:
Cash	$	3,838		$	14,812	$	10,298		$	3,404		$	1,314		$	15,244		$	5,906		$	15,475
Other receivables		-			-		-			-			-			-			-			-
Prepaid expenses		681			542		486			2,381			3,638			885			3,123			879
Due from (to) third party property managers		12,302			3,390		4,551			4,682			-			2,787			4,044			-
Total current assets		16,822			18,744		15,335			10,466			4,952			18,917			13,072			16,354
Property and equipment, net		303,904			211,231		324,791			219,057			300,203			278,244			296,689			292,129
Total assets	$	320,726		$	229,975	$	340,127		$	229,523		$	305,155		$	297,161		$	309,761		$	308,483
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	12,805		$	3,004	$	3,976		$	1,895		$	4,209		$	4,933		$	2,037		$	8,782
Tenant deposits		2,595			1,845		2,195			1,645			-			2,245			2,195			2,295
Due to (from) related parties		7,535			2,458		15,209			2,988			6,103			2,329			4,451			5,767
Total current liabilities		22,936			7,307		21,380			6,528			10,312			9,507			8,682			16,844
Mortgage payables, net		155,269			-		-			112,179			220,409			-			219,707			180,912
Operational notes, related party		6,700			-		-			11,100			19,100			-			24,300			-
Due to commonly controlled entity		-			-		-			-			-			-			-			-
Total liabilities		184,904			7,307		21,380			129,806			249,821			9,507			252,690			197,755
Members’ equity (deficit)
Members’ capital		174,800			218,931		330,196			136,252			111,248			294,808			104,538			117,359
Retained earnings (accumulated deficit)		(38,979	)		3,737		(11,449	)		(36,535	)		(55,914	)		(7,155	)		(47,467	)		(6,631	)
Total members’ equity (deficit)		135,821			222,668		318,747			99,717			55,334			287,654			57,071			110,728
Total liabilities and members’ equity (deficit)	$	320,726		$	229,975	$	340,127		$	229,523		$	305,155		$	297,161		$	309,761		$	308,483

F-60

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Tuscarora			Tuxford			Vernon			Walton			Wave			Weldon			Wellington			Wentworth
ASSETS
Current assets:
Cash	$	11,464		$	5,512		$	4,514		$	6,916		$	1,969		$	3,840		$	7,114		$	8,105
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		567			3,553			2,967			431			3,476			2,286			571			2,137
Due from (to) third party property managers		11,711			1,881			4,915			3,676			8,829			3,798			4,933			3,405
Total current assets		23,742			10,946			12,396			11,022			14,274			9,924			12,619			13,647
Property and equipment, net		318,906			244,298			239,245			282,438			312,084			193,420			385,999			214,294
Total assets	$	342,648		$	255,244		$	251,641		$	293,461		$	326,359		$	203,344		$	398,618		$	227,941
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	5,890		$	1,537		$	2,047		$	6,531		$	1,626		$	1,698		$	3,136		$	2,232
Tenant deposits		3,145			1,895			2,843			1,895			2,195			2,168			2,395			1,595
Due to (from) related parties		3,778			5,691			3,637			8,823			5,826			4,448			7,286			3,792
Total current liabilities		12,812			9,124			8,526			17,250			9,647			8,313			12,817			7,619
Mortgage payables, net		-			176,608			179,939			-			221,800			134,919			-			155,217
Operational notes, related party		-			25,800			7,400			29,000			94,200			-			-			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		12,812			211,532			195,865			46,250			325,646			143,232			12,817			162,836
Members’ equity (deficit)
Members’ capital		330,825			92,643			85,191			294,775			112,377			81,211			401,288			67,546
Retained earnings (accumulated deficit)		(989	)		(48,931	)		(29,415	)		(47,564	)		(111,665	)		(21,099	)		(15,487	)		(2,440	)
Total members’ equity (deficit)		329,836			43,712			55,776			247,211			713			60,113			385,801			65,105
Total liabilities and members’ equity (deficit)	$	342,648		$	255,244		$	251,641		$	293,461		$	326,359		$	203,344		$	398,618		$	227,941

F-61

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Wescott			Westchester			Wildwood			Willow			Wilson			Winchester			Windsor			Winston
ASSETS
Current assets:
Cash	$	2,273		$	7,646		$	7,637		$	3,572		$	8,153		$	4,347		$	4,831		$	9,599
Other receivables		-			-			-			-			-			-			-			-
Prepaid expenses		1,291			3,596			2,431			534			509			906			4,768			610
Due from (to) third party property managers		4,980			2,853			4,000			2,718			4,766			340			-			5,345
Total current assets		8,544			14,095			14,069			6,823			13,428			5,593			9,599			15,554
Property and equipment, net		257,291			310,763			206,640			275,607			363,871			261,340			319,138			310,330
Total assets	$	265,836		$	324,858		$	220,709		$	282,430		$	377,299		$	266,933		$	328,736		$	325,883
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	2,013		$	2,162		$	2,266		$	4,567		$	7,237		$	2,793		$	2,047		$	2,873
Tenant deposits		3,440			3,119			1,945			1,545			2,445			1,895			2,595			1,795
Due to (from) related parties		5,174			5,698			3,657			7,794			5,807			1,463			7,972			4,457
Total current liabilities		10,628			10,979			7,868			13,906			15,489			6,151			12,614			9,124
Mortgage payables, net		133,074			196,481			107,312			-			-			-			224,828			-
Operational notes, related party		20,800			16,600			-			-			-			-			32,500			-
Due to commonly controlled entity		-			-			-			-			-			-			-			-
Total liabilities		164,502			224,059			115,180			13,906			15,489			6,151			269,942			9,124
Members’ equity (deficit)
Members’ capital		145,767			141,460			116,060			282,191			369,388			276,569			114,006			324,293
Retained earnings (accumulated deficit)		(44,433	)		(40,662	)		(10,531	)		(13,668	)		(7,578	)		(15,787	)		(55,211	)		(7,534	)
Total members’ equity (deficit)		101,334			100,798			105,529			268,524			361,810			260,782			58,795			316,759
Total liabilities and members’ equity (deficit)	$	265,836		$	324,858		$	220,709		$	282,430		$	377,299		$	266,933		$	328,736		$	325,883

F-62

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Wisteria			Campbell		Arlo		Hualapai		Brentwood		Bellvue
ASSETS
Current assets:
Cash	$	6,681		$	-	$	-	$	-	$	-	$	-
Other receivables		-			-		-		-		-		-
Prepaid expenses		3,050			-		-		-		-		-
Due from (to) third party property managers		4,931			-		-		-		-		-
Total current assets		14,662			-		-		-		-		-
Property and equipment, net		283,244			-		-		-		-		-
Total assets	$	297,906		$	-	$	-	$	-	$	-	$	-
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	1,920		$	-	$	-	$	-	$	-	$	-
Tenant deposits		3,143			-		-		-		-		-
Due to (from) related parties		3,562			-		-		-		-		-
Total current liabilities		8,624			-		-		-		-		-
Mortgage payables, net		205,382			-		-		-		-		-
Operational notes, related party		9,300			-		-		-		-		-
Due to commonly controlled entity		-			-		-		-		-		-
Total liabilities		223,306			-		-		-		-		-
Members’ equity (deficit)
Members’ capital		97,526			-		-		-		-		-
Retained earnings (accumulated deficit)		(22,925	)		-		-		-		-		-
Total members’ equity (deficit)		74,600			-		-		-		-		-
Total liabilities and members’ equity (deficit)	$	297,906		$	-	$	-	$	-	$	-	$	-

F-63

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING BALANCE SHEET (DERIVED FROM AUDITED FINANCIAL STATEMENTS)

AS OF DECEMBER 31, 2024

	Lorenz		Lexie		Hartsfield		Unallocated members capital			Consolidated
ASSETS
Current assets:
Cash	$	-	$	-	$	-	$	-		$	1,881,389
Other receivables		-		-		-		-			1,377
Prepaid expenses		-		-		-		-			505,829
Due from (to) third party property managers		-		-		-		-			1,014,907
Total current assets		-		-		-		-			3,403,502
Property and equipment, net		-		-		-		-			72,206,586
Total assets	$	-	$	-	$	-	$	-		$	75,610,088
LIABILITIES AND MEMBERS’ EQUITY (DEFICIT)
Current liabilities:
Accrued expenses	$	-	$	-	$	-	$	-		$	907,183
Tenant deposits		-		-		-		-			526,298
Due to (from) related parties		-		-		-		-			1,386,475
Total current liabilities		-		-		-		-			2,819,955
Mortgage payables, net		-		-		-		-			23,721,589
Operational notes, related party		-		-		-		-			2,045,300
Due to commonly controlled entity		-		-		-		179,235			179,235
Total liabilities		-		-		-		179,235			28,766,079
Members’ equity (deficit)
Members’ capital		-		-		-		-			52,980,174
Retained earnings (accumulated deficit)		-		-		-		(179,235	)		(6,136,165	)
Total members’ equity (deficit)		-		-		-		(179,235	)		46,844,009
Total liabilities and members’ equity (deficit)	$	-	$	-	$	-	$	-		$	75,610,088

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

F-64

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	100			101			Abbington			Abernant		Alvin		Amber			Apollo
Rental income	$	13,991		$	18,570		$	16,110		$	9,420	$	13,920	$	11,897		$	6,735
Operating expenses:
Depreciation		8,445			9,308			7,247			3,124		4,368		4,208			3,933
Insurance		993			998			797			515		790		495			474
Management fees, related party		4,228			4,698			3,639			1,015		1,646		1,022			595
Management fees		473			1,127			434			420		420		707			504
Repairs & maintenance		525			-			145			-		-		-			-
Property taxes		1,538			1,544			1,304			1,185		1,115		392			840
Other operating expenses		4,083			1,792			2,575			467		946		2,636			1,604
Total operating expenses		20,285			19,467			16,142			6,726		9,285		9,460			7,951
Income (loss) from operations		(6,293	)		(897	)		(32	)		2,694		4,635		2,437			(1,216	)
Other expenses (income)
Interest expenses		-			-			-			-		-		3,929			3,897
Other Income		-			-			-			-		-		-			-
Total other expenses (income)		-			-			-			-		-		3,929			3,897
Net income (loss)	$	(6,293	)	$	(897	)	$	(32	)	$	2,694	$	4,635	$	(1,492	)	$	(5,112	)

F-65

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Aster			Augusta		Avebury			Avondale		Badminton			Ballinger			Bandelier
Rental income	$	9,720		$	11,970	$	11,010		$	11,970	$	13,235		$	12,570		$	12,120
Operating expenses:
Depreciation		3,504			4,075		3,995			4,523		4,230			4,108			4,134
Insurance		489			605		650			706		761			870			620
Management fees, related party		1,123			1,431		1,008			1,528		860			1,481			1,288
Management fees		421			445		661			420		793			1,519			483
Repairs & maintenance		89			245		-			-		-			10,989			525
Property taxes		2,264			1,791		1,139			1,965		2,992			930			1,613
Other operating expenses		1,327			1,376		1,563			1,258		2,578			1,754			1,347
Total operating expenses		9,218			9,968		9,016			10,400		12,214			21,650			10,010
Income (loss) from operations		502			2,002		1,994			1,570		1,021			(9,080	)		2,110
Other expenses (income)
Interest expenses		4,278			-		4,005			-		4,070			-			4,789
Other Income		-			-		-			-		-			(5,900	)		-
Total other expenses (income)		4,278			-		4,005			-		4,070			(5,900	)		4,789
Net income (loss)	$	(3,776	)	$	2,002	$	(2,011	)	$	1,570	$	(3,049	)	$	(3,180	)	$	(2,679	)

F-66

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Baron			Basil			Bayside			Bazzel			Bedford			Bella		Belle
Rental income	$	18,720		$	9,723		$	13,175		$	11,070		$	13,920		$	11,820	$	15,894
Operating expenses:
Depreciation		8,403			2,784			3,525			3,763			3,847			4,206		6,042
Insurance		2,366			422			646			635			840			636		898
Management fees, related party		4,343			710			926			1,711			941			1,441		1,797
Management fees		1,037			577			787			667			835			464		855
Repairs & maintenance		163			124			2,135			942			483			435		1,989
Property taxes		3,279			868			2,555			2,625			7,532			2,075		2,907
Other operating expenses		902			1,503			1,865			1,971			1,396			392		1,998
Total operating expenses		20,493			6,989			12,439			12,314			15,875			9,648		16,485
Income (loss) from operations		(1,773	)		2,734			736			(1,244	)		(1,955	)		2,172		(591	)
Other expenses (income)
Interest expenses		-			3,078			3,873			-			3,824			-		-
Other Income		-			-			-			-			-			-		-
Total other expenses (income)		-			3,078			3,873			-			3,824			-		-
Net income (loss)	$	(1,773	)	$	(345	)	$	(3,137	)	$	(1,244	)	$	(5,779	)	$	2,172	$	(591	)

F-67

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Belvedere		Bergenia		Blossom		Bonneau			Brainerd			Braxton		Brennan
Rental income	$	13,770	$	9,720	$	9,720	$	14,280		$	14,070		$	11,340	$	9,520
Operating expenses:
Depreciation		4,051		2,986		3,495		5,137			3,998			4,452		3,115
Insurance		786		520		441		1,506			521			528		574
Management fees, related party		1,556		1,009		1,123		1,730			1,576			1,458		891
Management fees		431		444		432		573			421			426		577
Repairs & maintenance		-		235		199		1,006			97			336		4,124
Property taxes		1,776		814		750		4,224			1,261			1,921		1,419
Other operating expenses		1,083		999		1,285		1,643			1,737			1,497		2,738
Total operating expenses		9,683		7,006		7,725		15,820			9,612			10,617		13,439
Income (loss) from operations		4,087		2,714		1,995		(1,540	)		4,458			723		(3,919	)
Other expenses (income)
Interest expenses		-		-		-		-			4,677			-		4,495
Other Income		-		-		-		-			-			-		-
Total other expenses (income)		-		-		-		-			4,677			-		4,495
Net income (loss)	$	4,087	$	2,714	$	1,995	$	(1,540	)	$	(219	)	$	723	$	(8,413	)

F-68

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Briarwood		Brooklyn			Burlington		Butter			Calvin		Camino		Cawley
Rental income	$	9,270	$	5,386		$	20,070	$	17,044		$	13,265	$	9,840	$	11,634
Operating expenses:
Depreciation		2,866		2,907			8,916		5,190			3,245		3,644		4,312
Insurance		523		419			1,381		1,904			397		536		704
Management fees, related party		951		677			4,906		1,215			1,336		1,024		1,470
Management fees		453		336			453		1,009			475		591		908
Repairs & maintenance		459		425			271		101			445		-		4,693
Property taxes		771		628			2,981		3,538			1,359		975		1,855
Other operating expenses		769		3,542			918		2,723			577		764		804
Total operating expenses		6,793		8,934			19,825		15,680			7,835		7,533		14,746
Income (loss) from operations		2,477		(3,548	)		245		1,363			5,430		2,307		(3,113	)
Other expenses (income)
Interest expenses		-		2,677			-		5,130			-		-		-
Other Income		-		-			-		-			-		-		-
Total other expenses (income)		-		2,677			-		5,130			-		-		-
Net income (loss)	$	2,477	$	(6,225	)	$	245	$	(3,766	)	$	5,430	$	2,307	$	(3,113	)

F-69

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Chaparral			Chelsea			Chester			Chickamauga		Chinook		Chitwood		Clover
Rental income	$	10,170		$	11,850		$	14,070		$	13,920	$	11,970	$	14,550	$	7,424
Operating expenses:
Depreciation		2,700			4,234			5,095			5,129		4,952		5,255		4,397
Insurance		485			571			673			716		806		693		813
Management fees, related party		918			1,090			1,822			1,811		1,453		1,899		2,144
Management fees		571			714			504			421		420		435		468
Repairs & maintenance		1,512			-			421			98		-		150		3,654
Property taxes		1,039			1,324			1,989			1,400		1,820		2,565		1,847
Other operating expenses		861			842			2,338			2,469		1,777		1,491		2,100
Total operating expenses		8,085			8,774			12,841			12,042		11,227		12,488		15,423
Income (loss) from operations		2,085			3,076			1,229			1,878		743		2,062		(8,000	)
Other expenses (income)
Interest expenses		2,136			4,215			6,236			-		-		-		-
Other Income		-			-			-			-		-		-		-
Total other expenses (income)		2,136			4,215			6,236			-		-		-		-
Net income (loss)	$	(50	)	$	(1,138	)	$	(5,007	)	$	1,878	$	743	$	2,062	$	(8,000	)

F-70

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Coatbridge			Collier		Collinston			Conway			Cove			Creekside		Creekwood
Rental income	$	12,570		$	13,860	$	9,570		$	20,520		$	10,170		$	11,775	$	11,100
Operating expenses:
Depreciation		4,526			4,879		2,906			9,438			2,890			4,269		3,972
Insurance		564			677		406			1,051			616			522		571
Management fees, related party		905			2,743		739			3,277			834			1,457		1,130
Management fees		910			420		574			470			643			450		664
Repairs & maintenance		944			-		-			584			3,225			200		1,573
Property taxes		2,307			435		1,871			1,968			1,467			1,536		1,978
Other operating expenses		1,084			2,510		3,481			4,635			1,801			966		813
Total operating expenses		11,240			11,664		9,976			21,422			11,477			9,401		10,700
Income (loss) from operations		1,330			2,196		(406	)		(902	)		(1,307	)		2,374		400
Other expenses (income)
Interest expenses		4,100			-		2,674			-			-			-		4,856
Other Income		-			-		-			-			-			-		-
Total other expenses (income)		4,100			-		2,674			-			-			-		4,856
Net income (loss)	$	(2,770	)	$	2,196	$	(3,080	)	$	(902	)	$	(1,307	)	$	2,374	$	(4,456	)

F-71

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Cumberland		Cupcake			Cypress			Daisy		Davidson			Dawson			Delta
Rental income	$	10,170	$	9,919		$	15,240		$	10,350	$	8,970		$	10,800		$	13,170
Operating expenses:
Depreciation		4,059		3,275			5,013			4,138		2,909			3,617			5,526
Insurance		550		472			606			552		406			581			628
Management fees, related party		1,279		919			1,603			1,314		672			802			1,018
Management fees		420		470			762			463		538			648			799
Repairs & maintenance		-		60			993			435		-			-			1,462
Property taxes		1,126		1,944			2,549			1,148		1,948			2,497			3,417
Other operating expenses		1,818		1,939			988			355		1,778			2,276			5,418
Total operating expenses		9,252		9,078			12,513			8,405		8,252			10,421			18,268
Income (loss) from operations		918		840			2,727			1,945		718			379			(5,098	)
Other expenses (income)
Interest expenses		-		3,017			6,105			-		2,879			3,419			4,435
Other Income		-		-			-			-		-			-			-
Total other expenses (income)		-		3,017			6,105			-		2,879			3,419			4,435
Net income (loss)	$	918	$	(2,177	)	$	(3,378	)	$	1,945	$	(2,161	)	$	(3,040	)	$	(9,533	)

F-72

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Dewberry			Diablo			Dogwood		Dolittle			Dolly		Dops			Dorchester
Rental income	$	8,868		$	11,650		$	10,500	$	14,340		$	21,530	$	11,196		$	10,880
Operating expenses:
Depreciation		2,613			3,571			3,311		4,222			9,475		2,809			4,835
Insurance		456			688			539		617			1,069		526			1,576
Management fees, related party		799			1,235			1,648		1,291			3,372		884			2,742
Management fees		407			558			630		574			448		657			2,041
Repairs & maintenance		573			1,381			1,405		700			368		(1,138	)		5,695
Property taxes		2,958			1,553			654		4,344			1,767		713			4,866
Other operating expenses		1,269			2,646			1,108		1,361			2,851		902			4,278
Total operating expenses		9,074			11,631			9,295		13,108			19,350		5,352			26,032
Income (loss) from operations		(206	)		19			1,205		1,232			2,180		5,844			(15,152	)
Other expenses (income)
Interest expenses		2,836			4,067			-		4,060			-		-			-
Other Income		(1	)		-			-		-			-		-			-
Total other expenses (income)		2,835			4,067			-		4,060			-		-			-
Net income (loss)	$	(3,041	)	$	(4,048	)	$	1,205	$	(2,829	)	$	2,180	$	5,844		$	(15,152	)

F-73

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Dunbar			Eagle			Eastfair			Eastwood		Elevation			Ella		Ellen
Rental income	$	3,623		$	11,335		$	9,745		$	11,975	$	9,924		$	10,770	$	10,770
Operating expenses:
Depreciation		6,591			3,946			2,956			4,378		5,056			3,587		3,404
Insurance		671			569			568			763		667			489		576
Management fees, related party		1,947			1,333			660			1,563		852			1,222		1,190
Management fees		1,514			780			705			350		683			478		486
Repairs & maintenance		5,242			1,601			940			-		555			-		663
Property taxes		813			3,925			7,417			952		1,739			1,086		2,343
Other operating expenses		5,980			859			2,799			275		1,932			3,795		616
Total operating expenses		22,759			13,012			16,045			8,282		11,484			10,655		9,279
Income (loss) from operations		(19,136	)		(1,678	)		(6,300	)		3,693		(1,561	)		115		1,491
Other expenses (income)
Interest expenses		-			4,529			3,505			-		4,017			-		-
Other Income		-			-			-			-		-			-		-
Total other expenses (income)		-			4,529			3,505			-		4,017			-		-
Net income (loss)	$	(19,136	)	$	(6,207	)	$	(9,805	)	$	3,693	$	(5,578	)	$	115	$	1,491

F-74

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Elm			Emporia			Ensenada			Falcon			Felix		Fenwick		Fletcher
Rental income	$	8,970		$	7,306		$	20,070		$	12,720		$	9,570	$	10,237	$	8,100
Operating expenses:
Depreciation		2,300			4,833			6,666			3,953			4,101		4,120		2,412
Insurance		458			771			1,221			570			432		651		458
Management fees, related party		617			1,533			2,346			1,408			1,090		1,299		735
Management fees		541			125			554			420			420		507		441
Repairs & maintenance		250			7,817			1,344			-			-		19		-
Property taxes		1,790			3,256			4,511			4,064			1,157		1,547		590
Other operating expenses		1,564			7,208			1,630			1,084			1,544		1,039		960
Total operating expenses		7,520			25,543			18,271			11,499			8,744		9,180		5,596
Income (loss) from operations		1,450			(18,237	)		1,799			1,221			826		1,056		2,504
Other expenses (income)
Interest expenses		2,506			4,790			7,656			4,529			-		-		-
Other Income		-			-			-			-			-		-		-
Total other expenses (income)		2,506			4,790			7,656			4,529			-		-		-
Net income (loss)	$	(1,056	)	$	(23,027	)	$	(5,858	)	$	(3,308	)	$	826	$	1,056	$	2,504

F-75

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Folly			Forest			Foster		Franklin			Gardens			General		Goose
Rental income	$	13,590		$	14,820		$	14,094	$	12,870		$	9,745		$	15,450	$	11,370
Operating expenses:
Depreciation		5,126			6,070			4,307		4,623			3,586			4,342		3,678
Insurance		1,183			2,097			615		692			519			603		536
Management fees, related party		2,482			1,606			1,647		1,510			816			1,761		1,233
Management fees		547			445			420		549			577			481		481
Repairs & maintenance		720			-			-		1,294			243			609		584
Property taxes		3,707			2,573			3,477		3,382			498			1,995		1,742
Other operating expenses		2,063			2,114			769		854			1,121			575		1,888
Total operating expenses		15,829			14,905			11,235		12,904			7,361			10,366		10,142
Income (loss) from operations		(2,239	)		(85	)		2,859		(34	)		2,384			5,084		1,228
Other expenses (income)
Interest expenses		-			5,302			-		-			3,271			-		4,220
Other Income		-			-			-		-			-			-		-
Total other expenses (income)		-			5,302			-		-			3,271			-		4,220
Net income (loss)	$	(2,239	)	$	(5,387	)	$	2,859	$	(34	)	$	(887	)	$	5,084	$	(2,992	)

F-76

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Grant			Greenhill			Gretal			Grove			Hadden			Hansard			Hansel
Rental income	$	15,000		$	15,450		$	12,695		$	9,240		$	10,085		$	12,461		$	12,570
Operating expenses:
Depreciation		4,451			4,484			6,206			4,401			3,027			4,170			5,564
Insurance		805			755			770			669			404			840			684
Management fees, related party		1,166			1,063			1,958			733			761			1,675			1,798
Management fees		900			927			477			562			757			643			502
Repairs & maintenance		-			-			98			-			-			2,635			456
Property taxes		2,888			5,319			993			2,697			4,553			1,264			1,234
Other operating expenses		1,340			953			3,512			1,872			1,681			3,910			2,718
Total operating expenses		11,549			13,501			14,014			10,935			11,182			15,137			12,956
Income (loss) from operations		3,451			1,949			(1,319	)		(1,695	)		(1,097	)		(2,676	)		(386	)
Other expenses (income)
Interest expenses		5,063			4,454			-			3,773			2,811			-			6,771
Other Income		-			-			-			-			-			-			-
Total other expenses (income)		5,063			4,454			-			3,773			2,811			-			6,771
Net income (loss)	$	(1,612	)	$	(2,505	)	$	(1,319	)	$	(5,468	)	$	(3,908	)	$	(2,676	)	$	(7,156	)

F-77

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Hargrave			Harrison			Henry			Heritage			Heron			Highland			Hines
Rental income	$	7,941		$	16,920		$	14,680		$	12,330		$	12,300		$	2,897		$	9,720
Operating expenses:
Depreciation		3,212			6,296			5,912			4,506			4,474			3,942			4,405
Insurance		397			834			936			618			1,208			605			438
Management fees, related party		1,193			2,314			1,743			1,152			1,061			1,041			1,910
Management fees		764			470			728			631			738			200			448
Repairs & maintenance		5,350			238			140			220			1,690			3,349			280
Property taxes		1,471			1,701			3,052			3,000			5,103			2,235			1,008
Other operating expenses		4,002			2,696			3,606			1,808			1,302			3,014			1,634
Total operating expenses		16,388			14,548			16,117			11,935			15,576			14,387			10,123
Income (loss) from operations		(8,448	)		2,372			(1,437	)		395			(3,276	)		(11,490	)		(403	)
Other expenses (income)
Interest expenses		-			7,708			-			4,859			4,809			-			-
Other Income		-			-			-			-			-			-			-
Total other expenses (income)		-			7,708			-			4,859			4,809			-			-
Net income (loss)	$	(8,448	)	$	(5,336	)	$	(1,437	)	$	(4,464	)	$	(8,085	)	$	(11,490	)	$	(403	)

F-78

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Hobbes		Holcomb			Holland			Hollandaise			Holloway			Inglewood			Irene
Rental income	$	9,570	$	10,975		$	9,120		$	11,370		$	15,840		$	19,320		$	8,370
Operating expenses:
Depreciation		3,216		4,877			2,909			5,028			4,672			9,361			2,412
Insurance		397		651			406			688			937			1,080			416
Management fees, related party		1,043		2,399			730			1,313			1,126			3,163			778
Management fees		420		673			547			475			941			524			420
Repairs & maintenance		-		659			553			549			888			1,040			-
Property taxes		1,336		2,873			1,964			1,366			3,177			2,029			884
Other operating expenses		780		991			2,361			2,193			2,044			3,078			692
Total operating expenses		7,192		13,122			9,469			11,612			13,785			20,275			5,602
Income (loss) from operations		2,378		(2,147	)		(349	)		(242	)		2,055			(955	)		2,768
Other expenses (income)
Interest expenses		-		-			2,879			4,995			5,160			-			-
Other Income		-		-			-			-			-			-			-
Total other expenses (income)		-		-			2,879			4,995			5,160			-			-
Net income (loss)	$	2,378	$	(2,147	)	$	(3,228	)	$	(5,237	)	$	(3,105	)	$	(955	)	$	2,768

F-79

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Jack			Jake			Jefferson		Jill			Johnny		June			Jupiter
Rental income	$	12,570		$	17,970		$	13,030	$	13,590		$	20,965	$	16,320		$	9,450
Operating expenses:
Depreciation		6,377			8,093			3,777		5,492			8,047		8,047			2,906
Insurance		726			1,273			606		684			951		951			406
Management fees, related party		1,674			4,399			1,444		1,875			4,597		4,225			747
Management fees		572			567			420		465			425		584			567
Repairs & maintenance		1,075			1,474			-		-			50		1,640			-
Property taxes		935			3,591			861		1,219			1,615		1,615			1,247
Other operating expenses		2,261			1,639			2,028		1,308			3,025		3,222			1,488
Total operating expenses		13,620			21,037			9,137		11,042			18,710		20,284			7,361
Income (loss) from operations		(1,050	)		(3,067	)		3,893		2,548			2,255		(3,964	)		2,089
Other expenses (income)
Interest expenses		6,384			-			-		6,748			-		-			3,262
Other Income		-			-			-		-			-		-			-
Total other expenses (income)		6,384			-			-		6,748			-		-			3,262
Net income (loss)	$	(7,435	)	$	(3,067	)	$	3,893	$	(4,201	)	$	2,255	$	(3,964	)	$	(1,173	)

F-80

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Kawana			Kennesaw		Kenny			KerriAnn			Kessler			Kingsley			Kirkwood
Rental income	$	10,500		$	15,400	$	19,949		$	11,933		$	8,105		$	13,770		$	3,010
Operating expenses:
Depreciation		3,786			5,836		9,475			4,686			4,106			4,290			4,299
Insurance		794			870		1,086			701			428			864			447
Management fees, related party		959			2,934		3,246			1,001			999			956			791
Management fees		670			792		421			735			444			826			420
Repairs & maintenance		-			1,196		(238	)		1,841			319			140			-
Property taxes		934			2,456		1,931			1,972			2,670			5,236			1,230
Other operating expenses		1,063			1,099		2,745			3,590			3,116			1,538			4,496
Total operating expenses		8,205			15,184		18,666			14,525			12,082			13,850			11,683
Income (loss) from operations		2,295			216		1,282			(2,593	)		(3,977	)		(80	)		(8,673	)
Other expenses (income)
Interest expenses		3,766			-		-			4,655			4,312			5,020			4,358
Other Income		-			-		-			-			-			-			-
Total other expenses (income)		3,766			-		-			4,655			4,312			5,020			4,358
Net income (loss)	$	(1,471	)	$	216	$	1,282		$	(7,248	)	$	(8,289	)	$	(5,100	)	$	(13,031	)

F-81

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Korin		Lallie			Lanier			Lannister			Latte			Lennox		Lierly
Rental income	$	12,390	$	1,347		$	11,620		$	8,070		$	9,642		$	10,927	$	11,100
Operating expenses:
Depreciation		3,823		6,202			5,706			3,027			5,011			2,978		2,932
Insurance		546		1,579			701			435			971			458		569
Management fees, related party		1,408		872			1,034			682			2,618			782		941
Management fees		436		84			776			504			563			658		492
Repairs & maintenance		163		4,941			192			487			11,973			-		717
Property taxes		1,649		6,504			2,678			742			2,620			828		1,308
Other operating expenses		713		4,488			3,258			1,230			(90	)		1,306		859
Total operating expenses		8,738		24,671			14,345			7,106			23,667			7,010		7,818
Income (loss) from operations		3,652		(23,324	)		(2,724	)		964			(14,024	)		3,916		3,282
Other expenses (income)
Interest expenses		-		5,614			6,313			3,588			-			3,267		2,683
Other Income		-		-			-			-			-			-		-
Total other expenses (income)		-		5,614			6,313			3,588			-			3,267		2,683
Net income (loss)	$	3,652	$	(28,938	)	$	(9,038	)	$	(2,625	)	$	(14,024	)	$	649	$	599

F-82

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Lily			Limestone			Litton			Longwoods		Lookout		Loretta			Louis
Rental income	$	15,300		$	12,796		$	13,920		$	11,970	$	12,120	$	12,405		$	11,370
Operating expenses:
Depreciation		7,493			4,023			4,413			3,702		4,741		9,431			3,701
Insurance		1,614			722			653			1,882		596		1,066			486
Management fees, related party		2,023			1,003			1,654			1,348		2,546		2,786			1,300
Management fees		940			763			435			426		455		414			611
Repairs & maintenance		5,203			263			150			-		350		471			1,908
Property taxes		1,761			4,145			470			2,647		655		1,968			1,474
Other operating expenses		3,385			2,485			2,008			1,372		2,343		3,709			1,043
Total operating expenses		22,419			13,403			9,782			11,377		11,687		19,845			10,523
Income (loss) from operations		(7,119	)		(606	)		4,138			593		433		(7,439	)		847
Other expenses (income)
Interest expenses		6,087			3,971			5,159			-		-		-			-
Other Income		-			-			-			-		-		-			-
Total other expenses (income)		6,087			3,971			5,159			-		-		-			-
Net income (loss)	$	(13,206	)	$	(4,577	)	$	(1,021	)	$	593	$	433	$	(7,439	)	$	847

F-83

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Louise			Lovejoy			Luna			Lurleen			Madison			Mae		Magnolia
Rental income	$	11,833		$	11,970		$	11,420		$	5,241		$	8,994		$	13,050	$	9,870
Operating expenses:
Depreciation		3,789			4,044			2,956			4,048			2,828			4,864		4,154
Insurance		614			580			541			851			480			831		526
Management fees, related party		945			1,039			720			928			940			1,322		1,006
Management fees		706			721			685			389			542			914		494
Repairs & maintenance		-			-			-			2,592			-			-		370
Property taxes		1,159			2,530			2,496			1,257			1,314			3,855		1,931
Other operating expenses		1,597			1,706			2,083			2,459			1,408			1,235		1,913
Total operating expenses		8,810			10,620			9,481			12,524			7,512			13,021		10,394
Income (loss) from operations		3,023			1,350			1,939			(7,283	)		1,482			29		(524	)
Other expenses (income)
Interest expenses		4,017			4,012			3,506			4,120			3,122			-		4,993
Other Income		-			-			-			-			-			-		-
Total other expenses (income)		4,017			4,012			3,506			4,120			3,122			-		4,993
Net income (loss)	$	(994	)	$	(2,662	)	$	(1,567	)	$	(11,403	)	$	(1,639	)	$	29	$	(5,517	)

F-84

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Malbec			Mammoth			Marcelo		Marie		Marietta			Marion		Marple
Rental income	$	13,770		$	12,870		$	10,590	$	15,270	$	13,470		$	11,020	$	6,623
Operating expenses:
Depreciation		4,388			4,686			3,911		4,397		4,158			4,612		2,412
Insurance		637			734			504		767		670			1,391		416
Management fees, related party		1,371			1,041			1,282		1,757		1,224			1,227		638
Management fees		481			775			432		420		811			441		461
Repairs & maintenance		611			423			120		-		1,209			150		455
Property taxes		2,413			3,355			1,502		538		6,366			1,477		587
Other operating expenses		1,400			2,535			764		2,077		1,387			1,690		2,227
Total operating expenses		11,301			13,548			8,516		9,956		15,825			10,988		7,195
Income (loss) from operations		2,469			(678	)		2,074		5,314		(2,355	)		32		(572	)
Other expenses (income)
Interest expenses		4,891			5,695			-		-		5,102			-		-
Other Income		-			-			-		-		-			-		-
Total other expenses (income)		4,891			5,695			-		-		5,102			-		-
Net income (loss)	$	(2,422	)	$	(6,373	)	$	2,074	$	5,314	$	(7,457	)	$	32	$	(572	)

F-85

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Martell		Mary		Matchingham			McGregor			McLovin			Meadow			Mimosa
Rental income	$	11,670	$	12,570	$	11,312		$	11,790		$	18,870		$	11,850		$	10,615
Operating expenses:
Depreciation		3,572		3,732		2,913			4,132			6,931			4,410			2,954
Insurance		1,348		604		482			624			1,196			569			502
Management fees, related party		1,294		1,399		719			2,292			2,190			1,069			1,215
Management fees		425		420		730			642			1,540			696			599
Repairs & maintenance		-		-		2,626			2,224			329			-			1,833
Property taxes		1,587		911		3,744			1,161			4,636			1,810			575
Other operating expenses		1,573		2,257		1,750			1,928			1,642			2,867			679
Total operating expenses		9,798		9,324		12,965			13,004			18,464			11,421			8,357
Income (loss) from operations		1,872		3,246		(1,653	)		(1,214	)		406			429			2,258
Other expenses (income)
Interest expenses		-		-		2,867			-			7,179			4,203			3,829
Other Income		-		-		-			-			-			-			-
Total other expenses (income)		-		-		2,867			-			7,179			4,203			3,829
Net income (loss)	$	1,872	$	3,246	$	(4,520	)	$	(1,214	)	$	(6,772	)	$	(3,774	)	$	(1,571	)

F-86

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Mojave			Murphy			Mycroft		Nugget			Odessa			Olive			Oly
Rental income	$	10,470		$	12,120		$	8,520	$	17,700		$	17,670		$	11,520		$	17,970
Operating expenses:
Depreciation		3,525			4,085			2,466		7,694			7,332			3,689			6,265
Insurance		487			617			456		1,130			1,018			654			1,067
Management fees, related party		997			936			791		4,026			2,096			952			2,113
Management fees		463			727			521		420			552			694			525
Repairs & maintenance		429			-			908		-			1,315			1,008			1,050
Property taxes		1,973			4,212			659		3,348			4,114			3,622			3,405
Other operating expenses		1,089			845			612		2,635			3,099			2,087			902
Total operating expenses		8,962			11,423			6,414		19,252			19,525			12,706			15,326
Income (loss) from operations		1,508			697			2,106		(1,552	)		(1,855	)		(1,186	)		2,644
Other expenses (income)
Interest expenses		3,240			4,054			-		-			7,315			2,950			7,192
Other Income		-			-			-		-			-			-			-
Total other expenses (income)		3,240			4,054			-		-			7,315			2,950			7,192
Net income (loss)	$	(1,732	)	$	(3,357	)	$	2,106	$	(1,552	)	$	(9,170	)	$	(4,136	)	$	(4,548	)

F-87

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Onyx			Oscar			Osceola			Osprey			Otoro			Palmer			Patrick
Rental income	$	11,700		$	9,387		$	8,621		$	14,310		$	11,815		$	11,535		$	9,570
Operating expenses:
Depreciation		6,008			4,018			3,850			5,490			6,084			4,586			3,518
Insurance		783			432			2,566			1,501			915			658			501
Management fees, related party		1,256			1,203			1,199			2,357			1,349			1,382			911
Management fees		702			682			512			859			1,112			760			512
Repairs & maintenance		-			631			5,705			405			(1,827	)		3,397			918
Property taxes		1,577			1,157			2,557			4,558			3,577			1,674			1,034
Other operating expenses		1,854			1,549			2,397			1,050			5,007			1,524			859
Total operating expenses		12,180			9,672			18,786			16,220			16,217			13,981			8,253
Income (loss) from operations		(480	)		(285	)		(10,165	)		(1,910	)		(4,402	)		(2,446	)		1,317
Other expenses (income)
Interest expenses		-			-			-			-			5,363			-			2,201
Other Income		-			-			-			-			-			-			-
Total other expenses (income)		-			-			-			-			5,363			-			2,201
Net income (loss)	$	(480	)	$	(285	)	$	(10,165	)	$	(1,910	)	$	(9,765	)	$	(2,446	)	$	(884	)

F-88

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Peanut			Pearl			Pecan			Peterson		Piedmont			Pinot			Pioneer
Rental income	$	8,700		$	3,644		$	9,552		$	11,567	$	14,400		$	14,370		$	19,320
Operating expenses:
Depreciation		2,964			7,498			2,863			3,104		5,272			4,429			8,117
Insurance		484			828			523			515		736			643			1,123
Management fees, related party		770			3,280			894			1,191		1,887			1,426			4,404
Management fees		522			949			754			621		635			572			430
Repairs & maintenance		1,335			6,725			1,396			1,218		2,057			1,523			100
Property taxes		982			1,472			1,114			1,185		3,981			2,408			2,957
Other operating expenses		1,038			3,545			1,851			1,563		1,248			2,327			1,450
Total operating expenses		8,095			24,297			9,395			9,396		15,815			13,327			18,582
Income (loss) from operations		605			(20,653	)		156			2,170		(1,415	)		1,043			738
Other expenses (income)
Interest expenses		3,522			-			2,294			-		6,453			4,941			-
Other Income		-			-			-			-		-			-			-
Total other expenses (income)		3,522			-			2,294			-		6,453			4,941			-
Net income (loss)	$	(2,917	)	$	(20,653	)	$	(2,137	)	$	2,170	$	(7,869	)	$	(3,899	)	$	738

F-89

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Plumtree			Point			Porthos		Quincy			Redondo			Regency			Reginald
Rental income	$	9,990		$	12,570		$	13,770	$	18,270		$	13,470		$	7,727		$	11,948
Operating expenses:
Depreciation		2,768			5,250			4,148		7,515			4,308			4,437			8,770
Insurance		480			778			2,542		1,012			596			688			1,164
Management fees, related party		923			1,436			1,588		2,692			1,603			1,096			1,901
Management fees		790			601			444		1,024			567			3,090			1,564
Repairs & maintenance		3,695			1,809			245		4,646			1,281			14,581			6,052
Property taxes		1,083			1,897			2,960		2,469			2,288			2,286			3,138
Other operating expenses		939			2,360			1,021		2,697			1,670			2,066			5,415
Total operating expenses		10,679			14,131			12,947		22,054			12,312			28,244			28,004
Income (loss) from operations		(689	)		(1,561	)		823		(3,784	)		1,158			(20,517	)		(16,056	)
Other expenses (income)
Interest expenses		2,275			6,405			-		-			5,610			5,150			-
Other Income		-			-			-		-			-			(15,190	)		-
Total other expenses (income)		2,275			6,405			-		-			5,610			(10,041	)		-
Net income (loss)	$	(2,964	)	$	(7,966	)	$	823	$	(3,784	)	$	(4,452	)	$	(10,477	)	$	(16,056	)

F-90

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Reynolds		Ribbonwalk			Richardson			Richmond		Ridge			Ritter			River
Rental income	$	15,900	$	10,476		$	9,521		$	13,770	$	11,550		$	14,970		$	12,356
Operating expenses:
Depreciation		5,905		4,395			4,321			5,232		2,992			6,932			3,662
Insurance		896		701			531			745		479			1,210			628
Management fees, related party		2,994		1,121			1,347			1,821		989			3,681			1,158
Management fees		795		908			482			429		597			432			737
Repairs & maintenance		-		-			560			90		949			-			-
Property taxes		3,153		2,192			1,395			2,115		3,351			2,780			1,381
Other operating expenses		1,063		8,119			1,530			1,029		880			1,680			3,111
Total operating expenses		14,806		17,438			10,165			11,461		10,235			16,716			10,676
Income (loss) from operations		1,094		(6,962	)		(643	)		2,309		1,315			(1,746	)		1,680
Other expenses (income)
Interest expenses		-		4,380			-			-		3,283			-			4,017
Other Income		-		-			-			-		-			-			-
Total other expenses (income)		-		4,380			-			-		3,283			-			4,017
Net income (loss)	$	1,094	$	(11,343	)	$	(643	)	$	2,309	$	(1,968	)	$	(1,746	)	$	(2,337	)

F-91

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Riverwalk			Rooney			Roseberry			Rosewood			Roxy			Saddlebred			Saint
Rental income	$	16,413		$	12,570		$	14,433		$	11,490		$	12,755		$	17,083		$	13,685
Operating expenses:
Depreciation		5,427			4,422			4,513			3,719			4,479			7,639			3,791
Insurance		697			564			1,473			537			630			1,559			590
Management fees, related party		3,249			1,368			1,072			919			1,319			2,014			1,414
Management fees		766			450			862			804			420			1,312			420
Repairs & maintenance		3,012			-			500			-			-			6,008			-
Property taxes		800			1,157			5,900			1,307			1,872			1,846			1,255
Other operating expenses		3,699			2,925			2,546			1,217			2,825			3,154			1,368
Total operating expenses		17,650			10,886			16,866			8,502			11,544			23,531			8,838
Income (loss) from operations		(1,237	)		1,684			(2,433	)		2,988			1,211			(6,448	)		4,847
Other expenses (income)
Interest expenses		-			5,063			4,924			4,525			5,277			6,496			4,146
Other Income		-			-			-			-			-			-			-
Total other expenses (income)		-			5,063			4,924			4,525			5,277			6,496			4,146
Net income (loss)	$	(1,237	)	$	(3,379	)	$	(7,357	)	$	(1,537	)	$	(4,066	)	$	(12,944	)	$	701

F-92

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Sajni			Salem			Salinas		Saturn			Scepter			Sequoyah			Shallowford
Rental income	$	16,693		$	6,520		$	10,600	$	11,135		$	8,241		$	11,070		$	16,415
Operating expenses:
Depreciation		6,435			4,387			4,039		3,632			3,238			3,905			4,958
Insurance		2,783			637			432		406			506			495			694
Management fees, related party		1,815			934			1,118		879			828			1,210			1,979
Management fees		2,402			320			504		571			472			420			449
Repairs & maintenance		6,368			475			835		1,475			520			-			285
Property taxes		1,910			2,423			1,461		1,946			1,135			1,407			2,036
Other operating expenses		1,238			4,788			1,856		2,839			3,043			1,766			2,357
Total operating expenses		22,953			13,964			10,244		11,747			9,741			9,203			12,759
Income (loss) from operations		(6,260	)		(7,444	)		356		(612	)		(1,500	)		1,867			3,656
Other expenses (income)
Interest expenses		-			4,983			-		3,262			3,698			3,998			6,068
Other Income		(4,456	)		-			-		-			-			-			-
Total other expenses (income)		(4,456	)		4,983			-		3,262			3,698			3,998			6,068
Net income (loss)	$	(1,804	)	$	(12,427	)	$	356	$	(3,873	)	$	(5,198	)	$	(2,131	)	$	(2,412	)

F-93

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Shoreline			Sigma			Simon			Sims		Soapstone			Sodalis			Spencer
Rental income	$	14,014		$	14,250		$	10,175		$	11,070	$	11,400		$	7,206		$	14,342
Operating expenses:
Depreciation		4,260			5,240			3,976			3,749		4,118			3,980			4,157
Insurance		741			752			622			601		601			628			1,374
Management fees, related party		962			1,342			1,331			1,274		992			1,236			1,123
Management fees		829			855			573			431		483			1,608			860
Repairs & maintenance		-			345			447			-		-			13,881			-
Property taxes		2,314			2,243			806			1,598		1,360			3,000			2,071
Other operating expenses		2,098			2,996			2,763			1,742		1,021			2,644			2,552
Total operating expenses		11,205			13,774			10,519			9,394		8,576			26,977			12,136
Income (loss) from operations		2,810			476			(345	)		1,676		2,824			(19,772	)		2,206
Other expenses (income)
Interest expenses		4,936			5,268			-			-		2,625			-			4,554
Other Income		-			-			-			-		(21	)		(8,220	)		-
Total other expenses (income)		4,936			5,268			-			-		2,605			(8,220	)		4,554
Net income (loss)	$	(2,126	)	$	(4,791	)	$	(345	)	$	1,676	$	220		$	(11,552	)	$	(2,348	)

F-94

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Splash		Spring			Stonebriar			Sugar			Summerset			Sundance			Sunnyside
Rental income	$	10,140	$	10,736		$	8,640		$	12,379		$	11,718		$	12,870		$	9,720
Operating expenses:
Depreciation		2,978		3,401			2,787			4,279			5,058			5,102			3,039
Insurance		475		469			433			1,422			1,030			755			485
Management fees, related party		951		991			805			1,032			867			1,555			1,035
Management fees		453		648			580			735			703			463			420
Repairs & maintenance		325		3,103			-			1,608			1,966			262			-
Property taxes		1,062		2,659			1,309			2,658			(176	)		1,740			902
Other operating expenses		1,299		2,109			1,413			2,059			2,408			1,669			1,094
Total operating expenses		7,541		13,380			7,327			13,793			11,855			11,546			6,975
Income (loss) from operations		2,599		(2,645	)		1,313			(1,414	)		(138	)		1,324			2,745
Other expenses (income)
Interest expenses		2,475		-			3,221			4,706			3,873			5,610			-
Other Income		-		-			-			-			-			-			-
Total other expenses (income)		2,475		-			3,221			4,706			3,873			5,610			-
Net income (loss)	$	123	$	(2,645	)	$	(1,908	)	$	(6,120	)	$	(4,011	)	$	(4,286	)	$	2,745

F-95

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Swift		Taylor			Terracotta			Theodore		Tulip			Tuscan			Tuscarora
Rental income	$	13,170	$	5,902		$	8,183		$	12,020	$	13,470		$	14,750		$	13,210
Operating expenses:
Depreciation		5,287		3,689			3,787			3,947		4,363			4,439			4,591
Insurance		730		509			566			622		799			637			686
Management fees, related party		2,411		963			934			1,401		1,143			1,588			1,683
Management fees		662		289			619			547		811			465			530
Repairs & maintenance		185		1,673			1,580			836		1,001			450			273
Property taxes		2,491		1,304			1,442			798		2,065			1,692			3,040
Other operating expenses		1,063		3,128			4,753			1,957		1,582			3,125			2,221
Total operating expenses		12,829		11,555			13,680			10,109		11,764			12,395			13,024
Income (loss) from operations		341		(5,653	)		(5,497	)		1,911		1,706			2,355			186
Other expenses (income)
Interest expenses		-		3,860			4,353			-		5,310			3,664			-
Other Income		-		-			-			-		-			-			-
Total other expenses (income)		-		3,860			4,353			-		5,310			3,664			-
Net income (loss)	$	341	$	(9,513	)	$	(9,850	)	$	1,911	$	(3,604	)	$	(1,309	)	$	186

F-96

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Tuxford			Vernon			Walton			Wave			Weldon			Wellington			Wentworth
Rental income	$	11,902		$	11,700		$	11,370		$	11,045		$	9,217		$	15,017		$	11,565
Operating expenses:
Depreciation		3,601			3,619			4,123			4,596			2,906			6,241			3,417
Insurance		566			574			524			634			406			857			472
Management fees, related party		992			854			2,225			976			741			1,693			1,068
Management fees		685			702			621			793			547			773			420
Repairs & maintenance		350			1,207			449			(450	)		648			1,389			-
Property taxes		5,417			3,356			1,359			3,453			2,150			3,273			1,931
Other operating expenses		2,476			1,237			3,390			3,394			2,751			1,034			1,199
Total operating expenses		14,088			11,549			12,691			13,397			10,149			15,261			8,507
Income (loss) from operations		(2,185	)		151			(1,321	)		(2,351	)		(932	)		(244	)		3,058
Other expenses (income)
Interest expenses		3,493			3,558			-			4,380			2,674			-			3,126
Other Income		-			-			-			-			-			-			-
Total other expenses (income)		3,493			3,558			-			4,380			2,674			-			3,126
Net income (loss)	$	(5,678	)	$	(3,407	)	$	(1,321	)	$	(6,732	)	$	(3,606	)	$	(244	)	$	(68	)

F-97

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Wescott			Westchester			Wildwood			Willow			Wilson			Winchester
Rental income	$	9,720		$	12,875		$	10,320		$	9,270		$	13,650		$	12,985
Operating expenses:
Depreciation		3,765			4,687			3,031			4,020			5,861			4,209
Insurance		577			782			434			467			672			719
Management fees, related party		1,366			1,076			1,158			1,190			1,827			1,414
Management fees		499			1,297			420			557			653			553
Repairs & maintenance		786			433			-			1,343			2,229			855
Property taxes		1,059			5,812			1,183			1,078			2,004			1,946
Other operating expenses		2,325			2,328			1,617			844			908			1,547
Total operating expenses		10,376			16,414			7,844			9,499			14,153			11,242
Income (loss) from operations		(656	)		(3,539	)		2,476			(229	)		(503	)		1,743
Other expenses (income)
Interest expenses		4,145			4,645			3,074			-			-			-
Other Income		-			-			-			-			-			-
Total other expenses (income)		4,145			4,645			3,074			-			-			-
Net income (loss)	$	(4,801	)	$	(8,185	)	$	(598	)	$	(229	)	$	(503	)	$	1,743

F-98

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2025

	Windsor			Winston			Wisteria			Consolidated
Rental income	$	13,074		$	10,815		$	12,870		$	2,886,311
Operating expenses:
Depreciation		4,809			4,519			4,867			1,094,523
Insurance		1,615			595			831			180,708
Management fees, related party		958			1,227			950			360,791
Management fees		927			658			775			152,286
Repairs & maintenance		(473	)		1,565			418			263,117
Property taxes		11,368			1,662			1,852			522,416
Other operating expenses		2,631			1,083			1,385			480,908
Total operating expenses		21,836			11,309			11,077			3,054,748
Income (loss) from operations		(8,761	)		(494	)		1,793			(168,437	)
Other expenses (income)
Interest expenses		5,311			-			4,966			565,004
Other Income		-			-			-			(33,787	)
Total other expenses (income)		5,311			-			4,966			531,217
Net income (loss)	$	(14,073	)	$	(494	)	$	(3,173	)	$	(699,654	)

The accompanying notes are an integral part of these consolidated and consolidating financial statements.

F-99

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	100			101			Abbington			Abernant			Alvin		Amber			Apollo
Rental income	$	17,600		$	18,714		$	15,720		$	7,144		$	13,920	$	10,200		$	8,465
Operating expenses:
Depreciation		8,445			8,719			7,247			3,124			4,368		4,208			2,691
Insurance		1,142			1,118			927			718			1,116		522			573
Management fees, related party		4,513			4,697			3,589			852			1,590		732			537
Management fees		430			433			435			408			460		812			672
Repairs & maintenance		1,439			125			-			742			-		1,432			496
Property taxes		3,384			3,492			2,640			244			675		426			1,128
Credit loss expense (recovery)		-			-			-			-			-		-			-
Loss on sale of property		-			-			-			-			-		-			-
Other operating expenses		2,302			2,740			2,501			4,900			4,323		2,489			1,132
Total operating expenses		21,655			21,323			17,338			10,987			12,532		10,619			7,230
Income (loss) from operations		(4,055	)		(2,610	)		(1,618	)		(3,843	)		1,388		(419	)		1,235
Other expense
Interest expenses		-			-			-			-			-		3,929			3,897
Total other expenses		-			-			-			-			-		3,929			3,897
Net income (loss)	$	(4,055	)	$	(2,610	)	$	(1,618	)	$	(3,843	)	$	1,388	$	(4,348	)	$	(2,662	)

F-100

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Aster			Augusta		Avebury			Avondale			Badminton			Ballinger			Bandelier
Rental income	$	9,420		$	11,970	$	8,450		$	11,025		$	12,890		$	9,848		$	12,328
Operating expenses:
Depreciation		3,504			4,075		3,995			4,523			4,230			4,108			4,134
Insurance		540			593		797			930			1,223			635			711
Management fees, related party		1,099			1,398		751			1,625			551			1,198			1,339
Management fees		420			454		306			315			709			474			394
Repairs & maintenance		666			-		452			2,107			-			3,358			80
Property taxes		1,363			1,459		1,574			1,818			4,725			1,355			1,881
Credit loss expense (recovery)		-			-		-			-			-			-			-
Loss on sale of property		-			-		-			-			-			-			-
Other operating expenses		799			1,198		1,182			1,487			1,015			3,139			922
Total operating expenses		8,391			9,177		9,058			12,805			12,453			14,265			9,459
Income (loss) from operations		1,029			2,793		(608	)		(1,780	)		437			(4,417	)		2,868
Other expense
Interest expenses		4,416			-		3,971			-			4,070			-			4,789
Total other expenses		4,416			-		3,971			-			4,070			-			4,789
Net income (loss)	$	(3,387	)	$	2,793	$	(4,579	)	$	(1,780	)	$	(3,633	)	$	(4,417	)	$	(1,921	)

F-101

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Baron			Basil			Bayside			Bazzel			Bedford			Bella			Belle
Rental income	$	14,475		$	9,420		$	12,815		$	10,791		$	7,727		$	11,670		$	15,894
Operating expenses:
Depreciation		8,003			2,784			3,525			3,763			3,847			4,206			6,042
Insurance		1,767			531			955			350			1,357			718			1,227
Management fees, related party		4,073			478			615			1,456			616			1,420			1,585
Management fees		350			386			754			628			802			429			1,113
Repairs & maintenance		-			-			500			1,207			1,112			859			3,149
Property taxes		3,138			1,553			5,184			1,368			5,922			3,076			2,418
Credit loss expense (recovery)		-			(960	)		-			-			-			-			-
Loss on sale of property		-			-			-			-			-			-			-
Other operating expenses		662			894			948			2,903			1,467			2,513			1,001
Total operating expenses		17,993			5,667			12,481			11,676			15,124			13,219			16,534
Income (loss) from operations		(3,518	)		3,753			334			(886	)		(7,397	)		(1,549	)		(640	)
Other expense
Interest expenses		-			3,078			3,873			-			3,785			-			-
Total other expenses		-			3,078			3,873			-			3,785			-			-
Net income (loss)	$	(3,518	)	$	675		$	(3,539	)	$	(886	)	$	(11,182	)	$	(1,549	)	$	(640	)

F-102

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Belvedere		Bergenia			Blossom			Bonneau		Brainerd			Braxton			Brennan
Rental income	$	13,770	$	9,720		$	8,897		$	13,770	$	12,870		$	10,920		$	8,266
Operating expenses:
Depreciation		4,051		4,977			3,495			5,137		3,998			4,452			3,115
Insurance		1,195		506			432			2,101		608			563			746
Management fees, related party		1,527		1,009			977			1,642		1,480			1,424			675
Management fees		478		420			500			468		420			420			57
Repairs & maintenance		281		-			3,050			-		-			4,716			11,028
Property taxes		1,620		(48	)		612			1,847		654			1,782			1,514
Credit loss expense (recovery)		-		-			-			-		-			-			-
Loss on sale of property		-		-			-			-		-			-			-
Other operating expenses		1,068		851			2,919			1,541		2,275			737			2,988
Total operating expenses		10,221		7,715			11,985			12,735		9,435			14,094			20,123
Income (loss) from operations		3,549		2,005			(3,088	)		1,035		3,435			(3,174	)		(11,857	)
Other expense
Interest expenses		-		-			-			-		5,396			-			4,495
Total other expenses		-		-			-			-		5,396			-			4,495
Net income (loss)	$	3,549	$	2,005		$	(3,088	)	$	1,035	$	(1,961	)	$	(3,174	)	$	(16,352	)

F-103

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Briarwood			Brooklyn			Burlington			Butter			Calvin		Camino		Cawley
Rental income	$	7,365		$	7,224		$	20,446		$	11,618		$	10,770	$	9,605	$	13,170
Operating expenses:
Depreciation		2,866			2,907			8,916			5,190			3,245		3,644		4,312
Insurance		726			503			1,546			2,856			493		581		809
Management fees, related party		869			498			4,929			805			1,147		795		1,522
Management fees		350			230			427			907			420		768		460
Repairs & maintenance		-			-			591			4,549			2,024		500		405
Property taxes		459			912			3,594			5,025			1,103		1,458		1,728
Credit loss expense (recovery)		-			-			-			-			-		-		-
Loss on sale of property		-			-			-			-			-		-		-
Other operating expenses		2,993			941			877			1,604			1,223		880		1,322
Total operating expenses		8,264			5,991			20,880			20,936			9,655		8,626		10,557
Income (loss) from operations		(899	)		1,233			(434	)		(9,318	)		1,115		979		2,613
Other expense
Interest expenses		-			3,089			-			5,129			-		-		-
Total other expenses		-			3,089			-			5,129			-		-		-
Net income (loss)	$	(899	)	$	(1,855	)	$	(434	)	$	(14,446	)	$	1,115	$	979	$	2,613

F-104

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Centennial			Chaparral			Chelsea			Chester			Chickamauga		Chinook		Chitwood
Rental income	$	12,420		$	8,483		$	11,620		$	13,320		$	13,920	$	11,970	$	14,070
Operating expenses:
Depreciation		3,917			2,700			4,234			5,095			5,129		4,952		5,255
Insurance		505			646			574			823			920		959		846
Management fees, related party		591			783			817			1,711			1,737		1,371		1,753
Management fees		994			543			729			459			489		501		528
Repairs & maintenance		-			865			-			-			44		681		535
Property taxes		1,806			1,608			1,790			2,417			914		1,680		2,118
Credit loss expense (recovery)		-			-			-			-			-		-		-
Loss on sale of property		-			-			-			-			-		-		-
Other operating expenses		884			900			760			2,193			2,764		1,780		1,512
Total operating expenses		8,697			8,043			8,903			12,697			11,997		11,924		12,546
Income (loss) from operations		3,723			440			2,717			623			1,923		46		1,524
Other expense
Interest expenses		4,438			2,200			4,215			6,422			-		-		-
Total other expenses		4,438			2,200			4,215			6,422			-		-		-
Net income (loss)	$	(715	)	$	(1,760	)	$	(1,497	)	$	(5,799	)	$	1,923	$	46	$	1,524

F-105

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Clover			Coatbridge			Collier		Collinston			Conway			Cove			Creekside
Rental income	$	12,253		$	12,220		$	13,320	$	6,712		$	14,572		$	1,030		$	11,520
Operating expenses:
Depreciation		4,397			4,526			4,879		2,906			9,438			2,890			4,269
Insurance		1,099			741			861		481			1,153			870			511
Management fees, related party		1,910			897			2,653		515			2,921			630			1,394
Management fees		948			942			461		338			300			(228	)		463
Repairs & maintenance		4,766			250			228		5,097			2,720			-			325
Property taxes		1,818			5,741			1,950		1,822			3,768			1,158			1,415
Credit loss expense (recovery)		-			-			-		-			-			-			-
Loss on sale of property		-			-			-		-			-			-			-
Other operating expenses		3,664			2,633			2,124		3,377			4,118			3,296			822
Total operating expenses		18,601			15,730			13,155		14,535			24,416			8,616			9,199
Income (loss) from operations		(6,348	)		(3,510	)		165		(7,823	)		(9,845	)		(7,586	)		2,321
Other expense
Interest expenses		-			4,100			-		2,674			-			-			-
Total other expenses		-			4,100			-		2,674			-			-			-
Net income (loss)	$	(6,348	)	$	(7,610	)	$	165	$	(10,498	)	$	(9,845	)	$	(7,586	)	$	2,321

F-106

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Creekwood			Cumberland		Cupcake			Cypress			Daisy		Davidson			Dawson
Rental income	$	10,770		$	10,170	$	8,830		$	14,790		$	10,170	$	9,570		$	10,470
Operating expenses:
Depreciation		3,972			4,059		3,275			5,013			4,138		2,909			3,617
Insurance		613			587		573			673			603		481			859
Management fees, related party		869			1,279		681			1,342			1,300		463			550
Management fees		905			420		592			1,034			420		618			838
Repairs & maintenance		-			128		-			2,620			-		250			3,251
Property taxes		1,753			1,620		1,579			4,019			1,090		1,548			4,489
Credit loss expense (recovery)		-			-		-			-			-		-			-
Loss on sale of property		-			-		-			-			-		-			-
Other operating expenses		439			1,688		1,000			1,572			769		616			1,416
Total operating expenses		8,550			9,781		7,701			16,272			8,320		6,885			15,019
Income (loss) from operations		2,220			389		1,129			(1,482	)		1,850		2,685			(4,549	)
Other expense
Interest expenses		5,008			-		2,981			6,253			-		2,879			3,419
Total other expenses		5,008			-		2,981			6,253			-		2,879			3,419
Net income (loss)	$	(2,788	)	$	389	$	(1,851	)	$	(7,735	)	$	1,850	$	(194	)	$	(7,968	)

F-107

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Delta			Dewberry			Diablo			Dogwood		Dolittle			Dolly			Dops
Rental income	$	4,481		$	9,811		$	11,520		$	9,020	$	14,472		$	14,223		$	8,275
Operating expenses:
Depreciation		4,966			2,613			3,571			3,311		4,222			9,475			2,809
Insurance		768			630			965			638		802			1,181			1,420
Management fees, related party		727			462			1,132			1,403		669			2,893			615
Management fees		338			777			560			718		754			368			575
Repairs & maintenance		5,340			-			1,366			445		-			4,090			-
Property taxes		3,779			4,487			1,779			1,320		5,903			3,798			1,128
Credit loss expense (recovery)		-			-			-			-		-			-			-
Loss on sale of property		-			-			-			-		-			-			-
Other operating expenses		7,261			1,302			1,294			887		1,350			3,472			1,090
Total operating expenses		23,181			10,271			10,665			8,723		13,700			25,278			7,636
Income (loss) from operations		(18,700	)		(461	)		855			297		772			(11,055	)		639
Other expense
Interest expenses		4,435			2,836			4,067			-		4,060			-			-
Total other expenses		4,435			2,836			4,067			-		4,060			-			-
Net income (loss)	$	(23,135	)	$	(3,297	)	$	(3,211	)	$	297	$	(3,288	)	$	(11,055	)	$	639

F-108

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Dorchester		Dunbar			Eagle			Eastfair			Eastwood			Elevation			Ella
Rental income	$	13,170	$	13,615		$	10,175		$	11,684		$	-		$	8,030		$	10,770
Operating expenses:
Depreciation		4,727		5,811			3,946			2,956			4,378			5,056			3,587
Insurance		2,226		664			697			842			1,076			991			587
Management fees, related party		2,715		2,707			926			430			955			629			1,144
Management fees		420		462			838			856			480			735			476
Repairs & maintenance		-		1,294			-			89			195			524			-
Property taxes		1,896		1,770			28			4,848			589			2,403			1,428
Credit loss expense (recovery)		-		-			-			-			-			-			-
Loss on sale of property		-		-			-			-			-			-			-
Other operating expenses		819		3,157			1,300			3,144			4,223			6,855			2,159
Total operating expenses		12,803		15,865			7,734			13,165			11,896			17,194			9,381
Income (loss) from operations		367		(2,250	)		2,441			(1,481	)		(11,896	)		(9,164	)		1,389
Other expense
Interest expenses		-		-			4,529			3,505			-			4,017			-
Total other expenses		-		-			4,529			3,505			-			4,017			-
Net income (loss)	$	367	$	(2,250	)	$	(2,088	)	$	(4,986	)	$	(11,896	)	$	(13,181	)	$	1,389

F-109

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Ellen			Elm			Emporia			Ensenada			Falcon			Felix		Fenwick
Rental income	$	14,619		$	8,535		$	14,720		$	10,023		$	12,145		$	9,570	$	16,760
Operating expenses:
Depreciation		3,404			2,300			4,833			6,666			3,953			4,101		4,120
Insurance		727			677			1,085			1,391			698			463		663
Management fees, related party		1,498			411			907			1,701			963			1,090		1,715
Management fees		420			283			1,048			379			819			420		526
Repairs & maintenance		-			460			499			3,046			138			-		723
Property taxes		1,633			3,072			3,528			6,362			28			80		1,650
Credit loss expense (recovery)		-			-			-			-			-			-		-
Loss on sale of property		-			-			-			-			-			-		-
Other operating expenses		(7	)		1,363			517			1,201			1,300			1,253		1,111
Total operating expenses		7,674			8,565			12,417			20,747			7,899			7,406		10,508
Income (loss) from operations		6,944			(30	)		2,303			(10,723	)		4,246			2,164		6,252
Other expense
Interest expenses		-			2,506			4,790			7,656			4,529			-		-
Total other expenses		-			2,506			4,790			7,656			4,529			-		-
Net income (loss)	$	6,944		$	(2,536	)	$	(2,487	)	$	(18,380	)	$	(283	)	$	2,164	$	6,252

F-110

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Fletcher		Folly		Forest			Foster		Franklin			Gardens			General
Rental income	$	8,340	$	13,470	$	12,982		$	14,094	$	12,870		$	9,040		$	17,380
Operating expenses:
Depreciation		2,412		5,126		6,070			4,307		4,623			3,586			4,342
Insurance		673		1,439		3,416			730		788			629			665
Management fees, related party		883		2,411		816			1,629		1,458			582			2,003
Management fees		431		467		797			438		472			309			514
Repairs & maintenance		108		-		1,195			184		1,754			60			1,109
Property taxes		180		1,715		2,976			1,713		4,805			794			3,332
Credit loss expense (recovery)		-		-		-			-		-			-			-
Loss on sale of property		-		-		-			-		-			-			-
Other operating expenses		1,286		1,735		4,215			672		526			3,020			1,380
Total operating expenses		5,972		12,893		19,486			9,673		14,425			8,981			13,345
Income (loss) from operations		2,368		577		(6,504	)		4,421		(1,555	)		59			4,035
Other expense
Interest expenses		-		-		5,302			-		-			3,271			-
Total other expenses		-		-		5,302			-		-			3,271			-
Net income (loss)	$	2,368	$	577	$	(11,806	)	$	4,421	$	(1,555	)	$	(3,212	)	$	4,035

F-111

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Goose			Grant			Greenhill			Gretal		Grove			Hadden			Hansard
Rental income	$	11,940		$	14,781		$	18,065		$	14,370	$	9,005		$	10,300		$	13,200
Operating expenses:
Depreciation		3,678			4,451			4,484			6,206		4,401			3,027			4,170
Insurance		654			1,129			1,087			913		967			457			1,323
Management fees, related party		891			816			703			2,026		525			555			1,503
Management fees		819			900			1,239			460		720			702			450
Repairs & maintenance		192			-			-			109		-			1,104			-
Property taxes		1,046			2,728			6,420			2,478		2,439			3,382			853
Credit loss expense (recovery)		-			-			-			-		-			-			-
Loss on sale of property		-			-			-			-		-			-			-
Other operating expenses		1,300			1,595			1,449			2,146		1,128			926			2,033
Total operating expenses		8,579			11,619			15,381			14,337		10,182			10,152			10,331
Income (loss) from operations		3,361			3,162			2,684			33		(1,177	)		148			2,869
Other expense
Interest expenses		4,220			5,063			4,454			-		3,773			2,811			-
Total other expenses		4,220			5,063			4,454			-		3,773			2,811			-
Net income (loss)	$	(859	)	$	(1,901	)	$	(1,770	)	$	33	$	(4,950	)	$	(2,663	)	$	2,869

F-112

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Hansel			Hargrave			Harrison			Henry			Heritage			Heron			Highland
Rental income	$	8,380		$	6,008		$	16,920		$	5,873		$	11,985		$	11,370		$	11,370
Operating expenses:
Depreciation		5,564			3,212			6,296			5,912			4,506			4,474			3,942
Insurance		797			493			1,035			1,363			836			1,603			821
Management fees, related party		1,615			893			2,293			1,590			956			774			819
Management fees		260			297			443			261			839			910			910
Repairs & maintenance		1,303			3,357			175			15,773			742			295			-
Property taxes		748			1,204			1,780			2,268			3,195			4,214			1,499
Credit loss expense (recovery)		-			-			-			-			-			-			-
Loss on sale of property		-			-			-			-			-			-			-
Other operating expenses		3,197			4,614			2,838			2,906			951			1,302			1,067
Total operating expenses		13,484			14,070			14,859			30,073			12,025			13,570			9,057
Income (loss) from operations		(5,104	)		(8,062	)		2,061			(24,200	)		(40	)		(2,200	)		2,313
Other expense
Interest expenses		6,771			-			7,931			-			4,859			4,809			-
Total other expenses		6,771			-			7,931			-			4,859			4,809			-
Net income (loss)	$	(11,875	)	$	(8,062	)	$	(5,869	)	$	(24,200	)	$	(4,899	)	$	(7,009	)	$	2,313

F-113

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Hines			Hobbes			Holcomb		Holland			Hollandaise			Holloway			Inglewood
Rental income	$	9,720		$	4,200		$	12,570	$	8,525		$	6,603		$	15,570		$	16,238
Operating expenses:
Depreciation		4,405			3,216			4,877		2,909			5,028			4,672			9,361
Insurance		481			493			643		481			873			1,482			1,233
Management fees, related party		1,781			813			2,258		517			1,230			739			2,980
Management fees		482			238			879		667			156			1,246			383
Repairs & maintenance		625			2,549			127		450			11,729			-			1,747
Property taxes		1,404			2,203			2,132		1,592			1,756			5,220			3,732
Credit loss expense (recovery)		-			-			-		-			-			-			-
Loss on sale of property		-			-			-		-			-			-			-
Other operating expenses		1,159			2,450			937		1,123			4,427			951			3,656
Total operating expenses		10,337			11,961			11,853		7,738			25,199			14,310			23,091
Income (loss) from operations		(617	)		(7,761	)		717		787			(18,596	)		1,260			(6,854	)
Other expense
Interest expenses		-			-			-		2,879			4,995			5,160			-
Total other expenses		-			-			-		2,879			4,995			5,160			-
Net income (loss)	$	(617	)	$	(7,761	)	$	717	$	(2,092	)	$	(23,590	)	$	(3,900	)	$	(6,854	)

F-114

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Irene		Jack			Jake			Jefferson		Jill			Johnny			June
Rental income	$	8,370	$	13,966		$	17,930		$	12,870	$	13,170		$	16,775		$	19,920
Operating expenses:
Depreciation		2,412		6,377			8,093			3,777		5,492			8,047			8,047
Insurance		535		872			1,440			831		800			1,095			1,095
Management fees, related party		778		1,802			4,352			1,389		1,788			4,327			4,513
Management fees		420		397			464			450		460			420			420
Repairs & maintenance		-		60			-			-		83			-			-
Property taxes		165		763			3,264			166		722			3,216			3,216
Credit loss expense (recovery)		-		-			-			-		-			-			-
Loss on sale of property		-		-			-			-		-			-			-
Other operating expenses		647		2,272			1,642			2,003		2,543			2,383			2,531
Total operating expenses		4,957		12,542			19,255			8,616		11,888			19,489			19,823
Income (loss) from operations		3,413		1,424			(1,325	)		4,254		1,282			(2,714	)		97
Other expense
Interest expenses		-		6,384			-			-		6,947			-			-
Total other expenses		-		6,384			-			-		6,947			-			-
Net income (loss)	$	3,413	$	(4,960	)	$	(1,325	)	$	4,254	$	(5,665	)	$	(2,714	)	$	97

F-115

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Jupiter			Kawana			Kennesaw			Kenny			KerriAnn			Kessler			Kingsley
Rental income	$	6,641		$	10,170		$	15,741		$	4,736		$	6,585		$	8,088		$	13,570
Operating expenses:
Depreciation		2,906			3,786			5,836			9,475			4,686			4,106			4,290
Insurance		473			1,157			1,189			1,221			942			400			1,357
Management fees, related party		527			749			2,823			2,379			732			1,048			634
Management fees		330			814			978			82			495			625			894
Repairs & maintenance		767			-			2,023			3,058			5,596			2,554			-
Property taxes		1,071			1,327			2,340			3,798			1,891			692			8,299
Credit loss expense (recovery)		-			-			-			-			-			-			-
Loss on sale of property		-			-			-			-			-			-			-
Other operating expenses		2,275			1,167			2,321			3,101			3,845			1,242			928
Total operating expenses		8,348			8,999			17,510			23,114			18,187			10,669			16,402
Income (loss) from operations		(1,707	)		1,171			(1,769	)		(18,377	)		(11,602	)		(2,581	)		(2,832	)
Other expense
Interest expenses		3,262			3,766			-			-			4,655			4,423			5,020
Total other expenses		3,262			3,766			-			-			4,655			4,423			5,020
Net income (loss)	$	(4,968	)	$	(2,595	)	$	(1,769	)	$	(18,377	)	$	(16,258	)	$	(7,004	)	$	(7,852	)

F-116

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Kirkwood			Korin		Lallie			Lanier			Lannister			Latte		Lennox
Rental income	$	9,570		$	11,970	$	12,828		$	12,134		$	5,990		$	13,190	$	10,675
Operating expenses:
Depreciation		3,592			3,823		6,202			5,706			3,027			5,011		2,978
Insurance		496			618		2,132			881			521			1,398		593
Management fees, related party		1,036			1,342		849			840			517			2,087		530
Management fees		420			452		817			1,130			575			975		629
Repairs & maintenance		-			-		405			2,922			250			-		-
Property taxes		1,545			1,563		6,099			3,053			852			2,010		4,331
Credit loss expense (recovery)		-			-		-			-			-			-		-
Loss on sale of property		-			-		-			-			-			-		-
Other operating expenses		1,778			1,044		3,384			2,958			1,208			1,089		869
Total operating expenses		8,866			8,842		19,887			17,489			6,948			12,570		9,928
Income (loss) from operations		704			3,128		(7,059	)		(5,356	)		(958	)		620		747
Other expense
Interest expenses		4,358			-		5,614			6,313			3,588			-		3,267
Total other expenses		4,358			-		5,614			6,313			3,588			-		3,267
Net income (loss)	$	(3,654	)	$	3,128	$	(12,673	)	$	(11,669	)	$	(4,547	)	$	620	$	(2,521	)

F-117

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Lierly			Lily			Limestone			Litton			Longwoods			Lookout			Loretta
Rental income	$	9,883		$	14,370		$	7,019		$	12,954		$	11,970		$	9,600		$	19,595
Operating expenses:
Depreciation		2,932			7,493			4,023			4,413			3,702			4,741			9,431
Insurance		807			2,432			1,072			862			3,204			696			1,187
Management fees, related party		644			1,891			692			1,646			1,317			2,414			3,170
Management fees		786			464			492			363			446			350			492
Repairs & maintenance		1,585			85			5,700			120			105			-			1,120
Property taxes		1,344			1,990			6,294			1,758			1,488			1,896			3,768
Credit loss expense (recovery)		-			-			-			-			-			-			-
Loss on sale of property		-			-			-			-			-			-			-
Other operating expenses		900			1,085			5,183			877			2,792			2,143			2,482
Total operating expenses		8,999			15,439			23,457			10,039			13,053			12,241			21,650
Income (loss) from operations		884			(1,069	)		(16,438	)		2,915			(1,083	)		(2,641	)		(2,055	)
Other expense
Interest expenses		2,762			6,087			3,971			5,952			-			-			-
Total other expenses		2,762			6,087			3,971			5,952			-			-			-
Net income (loss)	$	(1,878	)	$	(7,156	)	$	(20,409	)	$	(3,037	)	$	(1,083	)	$	(2,641	)	$	(2,055	)

F-118

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Louis		Louise			Lovejoy			Luna			Lurleen			Madison			Mae
Rental income	$	11,370	$	12,515		$	11,820		$	7,543		$	10,220		$	11,093		$	12,570
Operating expenses:
Depreciation		3,701		3,789			4,044			2,956			2,141			2,828			4,864
Insurance		434		737			740			781			1,335			562			1,219
Management fees, related party		1,301		662			763			454			660			734			1,061
Management fees		420		782			807			620			814			693			1,006
Repairs & maintenance		-		4,925			1,000			867			644			700			(306	)
Property taxes		1,475		1,604			2,682			3,952			1,212			1,228			1,942
Credit loss expense (recovery)		-		-			-			-			-			-			-
Loss on sale of property		-		-			-			-			-			-			-
Other operating expenses		624		3,255			1,420			2,146			810			1,752			1,181
Total operating expenses		7,954		15,754			11,456			11,776			7,616			8,496			10,966
Income (loss) from operations		3,416		(3,240	)		364			(4,233	)		2,604			2,597			1,604
Other expense
Interest expenses		-		4,017			4,012			3,506			4,761			3,122			-
Total other expenses		-		4,017			4,012			3,506			4,761			3,122			-
Net income (loss)	$	3,416	$	(7,256	)	$	(3,648	)	$	(7,739	)	$	(2,157	)	$	(525	)	$	1,604

F-119

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Magnolia			Malbec			Mammoth			Marcelo		Marie			Marietta			Marion
Rental income	$	10,772		$	13,770		$	3,501		$	10,320	$	14,970		$	10,931		$	11,070
Operating expenses:
Depreciation		4,154			4,388			4,686			3,911		4,397			4,158			4,427
Insurance		693			751			1,023			575		1,122			925			1,748
Management fees, related party		836			827			744			1,261		2,177			913			1,136
Management fees		781			1,063			(320	)		420		446			972			1,287
Repairs & maintenance		204			429			9,307			-		55			1,263			2,959
Property taxes		2,415			2,223			4,581			1,566		(511	)		4,973			1,404
Credit loss expense (recovery)		-			-			-			-		-			-			-
Loss on sale of property		-			-			-			-		-			-			-
Other operating expenses		954			2,899			5,965			753		2,213			1,342			1,236
Total operating expenses		10,036			12,579			25,986			8,486		9,900			14,546			14,199
Income (loss) from operations		736			1,191			(22,485	)		1,834		5,070			(3,616	)		(3,129	)
Other expense
Interest expenses		4,993			4,891			5,695			-		-			5,260			-
Total other expenses		4,993			4,891			5,695			-		-			5,260			-
Net income (loss)	$	(4,257	)	$	(3,699	)	$	(28,180	)	$	1,834	$	5,070		$	(8,876	)	$	(3,129	)

F-120

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Marple			Martell			Mary		Matchingham			McGregor			McLovin			Meadow
Rental income	$	6,975		$	8,493		$	12,570	$	12,824		$	10,188		$	18,570		$	10,880
Operating expenses:
Depreciation		2,412			3,572			3,732		2,913			4,132			6,219			4,410
Insurance		491			2,020			622		655			674			1,422			671
Management fees, related party		818			1,102			1,384		476			2,982			2,111			795
Management fees		420			402			431		934			443			475			595
Repairs & maintenance		-			5,040			-		903			683			(125	)		-
Property taxes		(126	)		1,428			494		5,877			1,650			4,415			1,893
Credit loss expense (recovery)		-			-			-		-			-			-			-
Loss on sale of property		-			-			-		-			-			-			-
Other operating expenses		1,868			2,499			1,743		918			1,409			1,758			1,259
Total operating expenses		5,883			16,063			8,406		12,676			11,973			16,274			9,624
Income (loss) from operations		1,092			(7,570	)		4,164		148			(1,786	)		2,296			1,257
Other expense
Interest expenses		-			-			-		2,867			-			7,179			4,203
Total other expenses		-			-			-		2,867			-			7,179			4,203
Net income (loss)	$	1,092		$	(7,570	)	$	4,164	$	(2,719	)	$	(1,786	)	$	(4,883	)	$	(2,946	)

F-121

ARRIVED HOMES, LLC AND ITS SERIES

CONSOLIDATED AND CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

FOR THE SIX MONTHS ENDED JUNE 30, 2024

	Mimosa		Mojave		Murphy			Mycroft			Nugget			Odessa		Olive
Rental income	$	8,620	$	12,215	$	9,450		$	8,520		$	16,970		$	17,670	$	11,405
Operating expenses:
Depreciation		2,954		3,525		4,085			2,466			7,694			7,332		3,689
Insurance		599		576		815			575			1,191			985		1,019
Management fees, related party		645		842		653			802			4,133			2,006		687
Management fees		308		715		718			420			420			510		735
Repairs & maintenance		750		-		677			-			-			-		-
Property taxes		1,182		1,556		5,703			(92	)		3,090			3,452		5,347
Credit loss expense (recovery)		-		-		-			-			-			-		-
Loss on sale of property		-		-		-			-			-			-		-
Other operating expenses		880		1,000		3,564			1,259			688			2,173		1,715
Total operating expenses		7,318		8,214		16,215			5,430			17,216			16,458		13,192
Income (loss) from operations		1,302		4,001		(6,765	)		3,090			(246	)		1,212		(1,787	)
Other expense
Interest expenses		4,423		3,240		4,053			-			-