Direct capitalization models require an estimate of stabilized income for one year.  DCF models require estimates of net cash flows over the entire expected holding period.  In addition, the cash flow forecast must include the net cash flow expected to be produced by the sale of the property at the end of the expected holding period.  Finally, the appraiser must select the appropriate yield (required IRR) at which to discount all future cash flows or to use as the hurdle rate in an IRR analysis.