additionally , opportunities from new construction acquisition channels are impacted by the availability of vacant developed lots , development land assets and inventory of homes currently under construction or newly developed . our level of acquisition activity has fluctuated based on the number of suitable investments and the level of capital available to invest . during the year ended december 31 , 2018 , our total portfolio increased by 1,544 homes , including 1,483 homes acquired through broker acquisitions , 91 homes acquired through trustee acquisitions and 663 homes acquired through new construction acquisitions , of which 121 were developed through our internal construction program , offset by 693 homes sold , rescinded or contributed to an unconsolidated joint venture . during the fourth quarter of 2018 , our total portfolio increased by 319 homes , including 479 homes acquired through broker acquisitions and 220 homes acquired through new construction acquisitions , of which 34 were developed through our internal construction program , offset by 380 homes sold or rescinded . rescinded properties represent properties for which the sale has been unwound , as in certain jurisdictions , our purchases of single-family properties at foreclosure and judicial auctions are subject to the right of rescission , which is generally caused by the borrower filing for bankruptcy . the company 's disposition program is comprised of properties classified as held for sale and properties identified for future sale . during 2018 , we expanded our disposition program , which identified approximately 1,500 properties to be disposed from six of our smaller markets that we are fully exiting based on market analysis . our remaining properties to be disposed were identified based on sub-market analysis , as well as individual property-level operational review . as of december 31 , 2018 and 2017 , our disposition 41 program was comprised of 1,945 and 310 properties , respectively , all of which were classified as held for sale . we will continue to evaluate our properties for potential disposition going forward as a normal course of business . property operations the acquisition of properties involves expenditures in addition to payment of the purchase price , including property inspections , closing costs , liens , title insurance , transfer taxes , recording fees , broker commissions , property taxes and hoa fees , when applicable . in addition , we typically incur costs between $ 10,000 and $ 25,000 to renovate a home to prepare it for rental . renovation work varies , but may include paint , flooring , carpeting , cabinetry , appliances , plumbing hardware and other items required to prepare the home for rental . the time and cost involved in initially accessing our homes to prepare them for rental can impact our financial performance and varies among properties based on several factors , including the source of acquisition channel , whether the property is located in a judicial or non-judicial foreclosure state , if applicable , and whether or not the home is occupied at the time of acquisition . this process of finalizing the acquisition and gaining initial access to the home can range from immediate access to multiple months and , on average , takes approximately 10 to 30 days . additionally , after gaining access to the home , the time to renovate a property can vary significantly among properties and is most impacted by the age and condition of the property . on average , it takes approximately 50 to 70 days to complete the renovation process after gaining initial access to the home . our operating results are also impacted by the amount of time it takes to market and lease a property , which can vary greatly among properties , and is impacted by local demand , our marketing techniques and the size of our available inventory . on average , it takes approximately 20 to 40 days to lease a property after completing the renovation process . lastly , our operating results are impacted by the length of stay of our tenants and the amount of time it takes to prepare and re-lease a property after a tenant vacates . this process , which we refer to as `` turnover , `` is impacted by numerous factors , including the condition of the home upon move-out of the previous tenant , and by local demand , our marketing techniques and the size of our available inventory at the time of the turnover . on average , it takes approximately 50 to 60 days to complete the turnover process . revenue our revenue is derived primarily from rents collected under lease agreements with tenants for our single-family properties . these include short-term leases that we enter into directly with our tenants , which typically have a term of one year . our rental rates and occupancy levels are affected by macroeconomic factors and local and property-level factors , including market conditions , seasonality and tenant defaults , and the amount of time it takes to turn properties when tenants vacate . additionally , our ability to collect revenues and related operating results are impacted by the credit worthiness and quality of our tenants . on average , our tenants have household incomes ranging from $ 60,000 to $ 120,000 and primarily consist of families with approximately two adults and one or more children . in addition to rental revenues , we receive fees and other reimbursements , referred to as `` tenant charge-backs , `` from our tenants , which are primarily designed to recover costs for certain items , such as utilities , damages and maintenance . in accordance with accounting policies generally accepted in the united states of america ( `` gaap `` ) , these fees and tenant charge-backs are presented gross in the consolidated statements of operations . story_separator_special_tag 48 the following are reconciliations of core revenues , core property operating expenses , core noi , same-home core noi and same-home core noi after capital expenditures to their respective gaap metrics for the years ended december 31 , 2017 and 2016 ( amounts in thousands ) : replace_table_token_18_th replace_table_token_19_th replace_table_token_20_th total revenues total revenues increased 9.3 % to $ 960.4 million for the year ended december 31 , 2017 , from $ 878.9 million for the year ended december 31 , 2016 . revenue growth was primarily driven by continued strong acquisition and leasing activity , as our average leased portfolio grew to 45,839 homes for the year ended december 31 , 2017 , compared to 43,026 homes for the year ended december 31 , 2016 . property operating expenses property operating expenses increased 11.9 % to $ 355.1 million for the year ended december 31 , 2017 , from $ 317.3 million for the year ended december 31 , 2016 . this increase was primarily attributable to higher property tax expense associated with annual rate increases and re-assessments and higher maintenance and turnover costs . property management expenses for the year ended december 31 , 2017 and 2016 , property management expenses were $ 69.7 million and $ 70.7 million , respectively , which included $ 1.6 million and $ 1.5 million , respectively , of noncash share-based compensation expense related to 49 centralized and field property management employees . property management expenses decreased $ 1.0 million and as a percentage of total revenues , net of other revenues , decreased to 7.3 % for the year ended december 31 , 2017 , from 8.2 % for the year ended december 31 , 2016 , which was primarily attributable to greater efficiencies within our property management function . core revenues from same-home properties core revenues from same-home properties for the year ended december 31 , 2017 , increased $ 18.2 million , or 3.0 % , to $ 634.4 million from $ 616.2 million for the year ended december 31 , 2016 . this rise was primarily attributable to higher average monthly realized rent , which increased to $ 1,521 per month for the year ended december 31 , 2017 , compared to $ 1,475 per month for the year ended december 31 , 2016 . core property operating expenses from same-home properties core property operating expenses consist of direct property operating expenses , net of tenant charge-backs , and property management costs , net of tenant charge-backs and excluding noncash share-based compensation expense . core property operating expenses from same-home properties for the year ended december 31 , 2017 , decreased $ 1.8 million , or 0.8 % , to $ 225.1 million from $ 226.9 million for the year ended december 31 , 2016 . same-home core property operating expenses as a percentage of total same-home core revenues decreased to 35.5 % for the year ended december 31 , 2017 , from 36.8 % for the year ended december 31 , 2016 . this improvement was primarily attributable to lower property management expenses , net of tenant charge-backs , as well as to higher core revenues from same-home properties . general and administrative expense for the years ended december 31 , 2017 and 2016 , general and administrative expense , which primarily consists of corporate payroll and personnel costs , state taxes , trustees ' and officers ' insurance expense , audit and tax fees , trustee fees and other expenses associated with our corporate and administrative functions , was $ 34.7 million and $ 33.1 million , respectively , which included $ 2.6 million and $ 2.1 million , respectively , of noncash share-based compensation expense related to corporate administrative employees . the increase in general and administrative expense was primarily related to a rise in share-based compensation expense , nonrecurring rating agency fees incurred during 2017 associated with the company receiving inaugural investment grade corporate ratings , higher nonrecurring legal costs related to our outstanding securitizations and increased technology costs , partially offset by lower state taxes . interest expense interest expense was $ 112.6 million and $ 130.8 million for the years ended december 31 , 2017 and 2016 , respectively . this decrease was primarily due to the payoff of the arp 2014-sfr1 asset-backed securitization in the third quarter of 2016 , the payoff of the ah4r 2014-sfr1 asset-backed securitization in the second quarter of 2017 and increased capitalized interest related to a rise in homes under renovation as a result of increased acquisitions . acquisition fees and costs expensed all costs of our internal acquisition function are expensed in accordance with gaap . for the year ended december 31 , 2017 , acquisition fees and costs expensed totaled $ 4.6 million , including $ 4.3 million of costs associated with purchases of single-family properties and $ 0.3 million of other acquisition fees and costs expensed . for the year ended december 31 , 2016 , acquisition fees and costs expensed totaled $ 11.4 million , including $ 5.8 million of transaction costs related to the arpi merger , $ 3.3 million of costs associated with purchases of single-family properties and $ 2.3 million of other acquisition fees and costs expensed . depreciation and amortization depreciation and amortization expense consists primarily of depreciation of buildings and improvements . depreciation of our assets is calculated over their useful lives on a straight-line basis over 3 to 30 years . our intangible assets are amortized on a straight-line basis over the asset 's estimated economic useful life . depreciation and amortization expense was $ 297.3 million and $ 298.7 million for the years ended december 31 , 2017 and 2016 , respectively . this slight decrease was attributable to lower amortization related to in-place leases , partially offset by an increase in depreciation expense related to growth in our average number of depreciable properties . other expenses other expenses totaled $ 5.0 million for

cash flows the following table summarizes the company 's and the operating partnership 's cash flows for the years ended december 31 , 2018 , 2017 and 2016 : replace_table_token_21_th our cash flows provided by operating activities depend on numerous factors , including the occupancy level of our properties , the rental rates achieved on our leases , the collection of rent from our tenants and the level of property operating expenses , property management expenses and general and administrative expenses . during 2018 , net cash provided by operating activities was $ 410.9 million , which included cash from operations of $ 441.4 million and $ 30.5 million from other changes in operating assets and liabilities . net cash used for investing activities was $ 674.4 million , which primarily consisted of cash outflows of $ 487.8 million related to the acquisition of properties , $ 215.8 million related to cash paid for development activity , which primarily consisted of land held for development , land development and homebuilding 51 construction in progress , $ 52.4 million of initial renovation costs to prepare our properties for rental and $ 54.5 million of recurring and other capital expenditures for single-family properties , partially offset by cash inflows of $ 106.2 million of net proceeds received from sales of single-family properties and other assets and $ 36.9 million of distributions from joint ventures . renovation costs typically include paint , flooring , appliances , landscaping and other improvements .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows the following table summarizes the company 's and the operating partnership 's cash flows for the years ended december 31 , 2018 , 2017 and 2016 : replace_table_token_21_th our cash flows provided by operating activities depend on numerous factors , including the occupancy level of our properties , the rental rates achieved on our leases , the collection of rent from our tenants and the level of property operating expenses , property management expenses and general and administrative expenses . during 2018 , net cash provided by operating activities was $ 410.9 million , which included cash from operations of $ 441.4 million and $ 30.5 million from other changes in operating assets and liabilities . net cash used for investing activities was $ 674.4 million , which primarily consisted of cash outflows of $ 487.8 million related to the acquisition of properties , $ 215.8 million related to cash paid for development activity , which primarily consisted of land held for development , land development and homebuilding 51 construction in progress , $ 52.4 million of initial renovation costs to prepare our properties for rental and $ 54.5 million of recurring and other capital expenditures for single-family properties , partially offset by cash inflows of $ 106.2 million of net proceeds received from sales of single-family properties and other assets and $ 36.9 million of distributions from joint ventures . renovation costs typically include paint , flooring , appliances , landscaping and other improvements .
```    
 Suspicious Activity Report : additionally , opportunities from new construction acquisition channels are impacted by the availability of vacant developed lots , development land assets and inventory of homes currently under construction or newly developed . our level of acquisition activity has fluctuated based on the number of suitable investments and the level of capital available to invest . during the year ended december 31 , 2018 , our total portfolio increased by 1,544 homes , including 1,483 homes acquired through broker acquisitions , 91 homes acquired through trustee acquisitions and 663 homes acquired through new construction acquisitions , of which 121 were developed through our internal construction program , offset by 693 homes sold , rescinded or contributed to an unconsolidated joint venture . during the fourth quarter of 2018 , our total portfolio increased by 319 homes , including 479 homes acquired through broker acquisitions and 220 homes acquired through new construction acquisitions , of which 34 were developed through our internal construction program , offset by 380 homes sold or rescinded . rescinded properties represent properties for which the sale has been unwound , as in certain jurisdictions , our purchases of single-family properties at foreclosure and judicial auctions are subject to the right of rescission , which is generally caused by the borrower filing for bankruptcy . the company 's disposition program is comprised of properties classified as held for sale and properties identified for future sale . during 2018 , we expanded our disposition program , which identified approximately 1,500 properties to be disposed from six of our smaller markets that we are fully exiting based on market analysis . our remaining properties to be disposed were identified based on sub-market analysis , as well as individual property-level operational review . as of december 31 , 2018 and 2017 , our disposition 41 program was comprised of 1,945 and 310 properties , respectively , all of which were classified as held for sale . we will continue to evaluate our properties for potential disposition going forward as a normal course of business . property operations the acquisition of properties involves expenditures in addition to payment of the purchase price , including property inspections , closing costs , liens , title insurance , transfer taxes , recording fees , broker commissions , property taxes and hoa fees , when applicable . in addition , we typically incur costs between $ 10,000 and $ 25,000 to renovate a home to prepare it for rental . renovation work varies , but may include paint , flooring , carpeting , cabinetry , appliances , plumbing hardware and other items required to prepare the home for rental . the time and cost involved in initially accessing our homes to prepare them for rental can impact our financial performance and varies among properties based on several factors , including the source of acquisition channel , whether the property is located in a judicial or non-judicial foreclosure state , if applicable , and whether or not the home is occupied at the time of acquisition . this process of finalizing the acquisition and gaining initial access to the home can range from immediate access to multiple months and , on average , takes approximately 10 to 30 days . additionally , after gaining access to the home , the time to renovate a property can vary significantly among properties and is most impacted by the age and condition of the property . on average , it takes approximately 50 to 70 days to complete the renovation process after gaining initial access to the home . our operating results are also impacted by the amount of time it takes to market and lease a property , which can vary greatly among properties , and is impacted by local demand , our marketing techniques and the size of our available inventory . on average , it takes approximately 20 to 40 days to lease a property after completing the renovation process . lastly , our operating results are impacted by the length of stay of our tenants and the amount of time it takes to prepare and re-lease a property after a tenant vacates . this process , which we refer to as `` turnover , `` is impacted by numerous factors , including the condition of the home upon move-out of the previous tenant , and by local demand , our marketing techniques and the size of our available inventory at the time of the turnover . on average , it takes approximately 50 to 60 days to complete the turnover process . revenue our revenue is derived primarily from rents collected under lease agreements with tenants for our single-family properties . these include short-term leases that we enter into directly with our tenants , which typically have a term of one year . our rental rates and occupancy levels are affected by macroeconomic factors and local and property-level factors , including market conditions , seasonality and tenant defaults , and the amount of time it takes to turn properties when tenants vacate . additionally , our ability to collect revenues and related operating results are impacted by the credit worthiness and quality of our tenants . on average , our tenants have household incomes ranging from $ 60,000 to $ 120,000 and primarily consist of families with approximately two adults and one or more children . in addition to rental revenues , we receive fees and other reimbursements , referred to as `` tenant charge-backs , `` from our tenants , which are primarily designed to recover costs for certain items , such as utilities , damages and maintenance . in accordance with accounting policies generally accepted in the united states of america ( `` gaap `` ) , these fees and tenant charge-backs are presented gross in the consolidated statements of operations . story_separator_special_tag 48 the following are reconciliations of core revenues , core property operating expenses , core noi , same-home core noi and same-home core noi after capital expenditures to their respective gaap metrics for the years ended december 31 , 2017 and 2016 ( amounts in thousands ) : replace_table_token_18_th replace_table_token_19_th replace_table_token_20_th total revenues total revenues increased 9.3 % to $ 960.4 million for the year ended december 31 , 2017 , from $ 878.9 million for the year ended december 31 , 2016 . revenue growth was primarily driven by continued strong acquisition and leasing activity , as our average leased portfolio grew to 45,839 homes for the year ended december 31 , 2017 , compared to 43,026 homes for the year ended december 31 , 2016 . property operating expenses property operating expenses increased 11.9 % to $ 355.1 million for the year ended december 31 , 2017 , from $ 317.3 million for the year ended december 31 , 2016 . this increase was primarily attributable to higher property tax expense associated with annual rate increases and re-assessments and higher maintenance and turnover costs . property management expenses for the year ended december 31 , 2017 and 2016 , property management expenses were $ 69.7 million and $ 70.7 million , respectively , which included $ 1.6 million and $ 1.5 million , respectively , of noncash share-based compensation expense related to 49 centralized and field property management employees . property management expenses decreased $ 1.0 million and as a percentage of total revenues , net of other revenues , decreased to 7.3 % for the year ended december 31 , 2017 , from 8.2 % for the year ended december 31 , 2016 , which was primarily attributable to greater efficiencies within our property management function . core revenues from same-home properties core revenues from same-home properties for the year ended december 31 , 2017 , increased $ 18.2 million , or 3.0 % , to $ 634.4 million from $ 616.2 million for the year ended december 31 , 2016 . this rise was primarily attributable to higher average monthly realized rent , which increased to $ 1,521 per month for the year ended december 31 , 2017 , compared to $ 1,475 per month for the year ended december 31 , 2016 . core property operating expenses from same-home properties core property operating expenses consist of direct property operating expenses , net of tenant charge-backs , and property management costs , net of tenant charge-backs and excluding noncash share-based compensation expense . core property operating expenses from same-home properties for the year ended december 31 , 2017 , decreased $ 1.8 million , or 0.8 % , to $ 225.1 million from $ 226.9 million for the year ended december 31 , 2016 . same-home core property operating expenses as a percentage of total same-home core revenues decreased to 35.5 % for the year ended december 31 , 2017 , from 36.8 % for the year ended december 31 , 2016 . this improvement was primarily attributable to lower property management expenses , net of tenant charge-backs , as well as to higher core revenues from same-home properties . general and administrative expense for the years ended december 31 , 2017 and 2016 , general and administrative expense , which primarily consists of corporate payroll and personnel costs , state taxes , trustees ' and officers ' insurance expense , audit and tax fees , trustee fees and other expenses associated with our corporate and administrative functions , was $ 34.7 million and $ 33.1 million , respectively , which included $ 2.6 million and $ 2.1 million , respectively , of noncash share-based compensation expense related to corporate administrative employees . the increase in general and administrative expense was primarily related to a rise in share-based compensation expense , nonrecurring rating agency fees incurred during 2017 associated with the company receiving inaugural investment grade corporate ratings , higher nonrecurring legal costs related to our outstanding securitizations and increased technology costs , partially offset by lower state taxes . interest expense interest expense was $ 112.6 million and $ 130.8 million for the years ended december 31 , 2017 and 2016 , respectively . this decrease was primarily due to the payoff of the arp 2014-sfr1 asset-backed securitization in the third quarter of 2016 , the payoff of the ah4r 2014-sfr1 asset-backed securitization in the second quarter of 2017 and increased capitalized interest related to a rise in homes under renovation as a result of increased acquisitions . acquisition fees and costs expensed all costs of our internal acquisition function are expensed in accordance with gaap . for the year ended december 31 , 2017 , acquisition fees and costs expensed totaled $ 4.6 million , including $ 4.3 million of costs associated with purchases of single-family properties and $ 0.3 million of other acquisition fees and costs expensed . for the year ended december 31 , 2016 , acquisition fees and costs expensed totaled $ 11.4 million , including $ 5.8 million of transaction costs related to the arpi merger , $ 3.3 million of costs associated with purchases of single-family properties and $ 2.3 million of other acquisition fees and costs expensed . depreciation and amortization depreciation and amortization expense consists primarily of depreciation of buildings and improvements . depreciation of our assets is calculated over their useful lives on a straight-line basis over 3 to 30 years . our intangible assets are amortized on a straight-line basis over the asset 's estimated economic useful life . depreciation and amortization expense was $ 297.3 million and $ 298.7 million for the years ended december 31 , 2017 and 2016 , respectively . this slight decrease was attributable to lower amortization related to in-place leases , partially offset by an increase in depreciation expense related to growth in our average number of depreciable properties . other expenses other expenses totaled $ 5.0 million for

