UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                    FORM 10-Q

(Mark one)

[x]                   QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended              March 31, 1998
                               
                                       OR

[ ]                   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                      OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from__________________to__________________

Commission File Number                   0-14695

                NTS-PROPERTIES VI, a Maryland Limited Partnership
             (Exact name of registrant as specified in its charter)

          Maryland                                   61-1066060
(State or other jurisdiction of          (I.R.S. Employer Identification No.)
incorporation or organization)

    10172 Linn Station Road
    Louisville, Kentucky                                40223
(Address of principal executive                       (Zip Code)
offices)

Registrant's telephone number,
including area code                                 (502) 426-4800

                                 Not Applicable
               Former name, former address and former fiscal year,
                          if changed since last report

Indicate by check mark whether the registrant (l) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months,  and (2) has been subject to such filing  requirements
for the past 90 days.

                                                YES  X         NO

Exhibit Index: See page 17
Total Pages: 18


<PAGE>



                                TABLE OF CONTENTS

                                                                       Pages

                                     PART I

Item 1.     Financial Statements

            Balance Sheets and Statement of Partners' Equity
              as of March 31, 1998 and December 31, 1997                   3

            Statements of Operations
              For the three months ended March 31, 1998 and 1997           4

            Statements of Cash Flows
              For the three months ended March 31, 1998 and 1997           5

            Notes To Financial Statements                                6-9

Item 2.     Management's Discussion and Analysis of Financial
              Condition and Results of Operations                      10-16


                                     PART II

1.     Legal Proceedings                                                  17
2.     Changes in Securities                                              17
3.     Defaults upon Senior Securities                                    17
4.     Submission of Matters to a Vote of Security Holders                17
5.     Other Information                                                  17
6.     Exhibits and Reports on Form 8-K                                   17

Signatures                                                                18


                                      - 2 -

<PAGE>
<TABLE>


PART I.  FINANCIAL INFORMATION
Item 1.  Financial Statements

                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                BALANCE SHEETS AND STATEMENT OF PARTNERS' EQUITY

<CAPTION>

                                             As of                  As of
                                        March 31, 1998        December 31, 1997*
                                        --------------        ------------------
ASSETS

<S>                                       <C>                   <C>        
Cash and equivalents                      $   694,053           $   276,891
Cash and equivalents - restricted             397,830               507,568
Investment securities                       1,265,537             1,562,813
Accounts receivable                           145,687               111,152
Land, buildings and amenities, net         38,317,081            38,660,912
Assets held for development, net            1,851,660             1,774,455
Other assets                                  414,293               395,817
                                          -----------           -----------

                                          $43,086,141           $43,289,608
                                          ===========           ===========

LIABILITIES AND PARTNERS' EQUITY

Mortgages payable                         $26,622,760           $26,872,563
Accounts payable                              204,384               195,165
Distributions payable                         211,040               213,687
Security deposits                             240,504               237,501
Other liabilities                             272,119                67,340
                                          -----------           -----------

                                           27,550,807            27,586,256

Commitments and contingencies

Partners' equity                           15,535,334            15,703,352
                                          -----------           -----------

                                          $43,086,141           $43,289,608
                                          ===========           ===========
</TABLE>
<TABLE>
<CAPTION>

                                        Limited         General
                                       Partners         Partner        Total
                                       --------         -------        -----

<S>                                <C>             <C>             <C>    
PARTNERS' EQUITY
Capital contributions, net of
 offering costs                    $ 40,518,631    $        100    $ 40,518,731
Net income (loss) - prior years     (12,202,299)        (74,865)    (12,277,164)
Net income - current year               198,221           2,002         200,223
Cash distributions declared to
 date                               (11,303,461)       (114,176)    (11,417,637)
Repurchase of limited
 partnership units                   (1,488,819)          --         (1,488,819)
                                   ------------    ------------    ------------

Balances at March 31, 1998         $ 15,722,273    $   (186,939)   $ 15,535,334
                                   ============    ============    ============
</TABLE>
*      Reference  is made to the  audited  financial  statements  in the  Annual
       Report on Form 10-K as filed with the Commission on March 30, 1998.

                                      - 3 -

<PAGE>
<TABLE>


                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                            STATEMENTS OF OPERATIONS
<CAPTION>

                                                          Three Months Ended
                                                               March 31,

                                                        1998            1997
                                                    -----------     -----------
<S>                                                 <C>             <C>    
Revenues:
 Rental income                                      $ 2,386,677     $ 2,305,318
 Interest and other income                               34,507          27,947
                                                    -----------     -----------

                                                      2,421,184       2,333,265
Expenses:
 Operating expenses                                     553,311         609,883
 Operating expenses - affiliated                        308,392         299,489
 Interest expense                                       492,197         582,872
 Management fees                                        118,450         116,814
 Real estate taxes                                      199,915         193,092
 Professional and administrative expenses                29,849          35,693
 Professional and administrative expenses
  - affiliated                                           68,565          77,480
 Depreciation and amortization                          450,282         479,552
                                                    -----------     -----------

                                                      2,220,961       2,394,875
                                                    -----------     -----------

Net income (loss)                                   $   200,223     $   (61,610)
                                                    ===========     ===========

Net income (loss) allocated to the limited
 partners                                           $   198,221     $   (60,994)
                                                    ===========     ===========

Net income (loss) per limited partnership
 unit                                               $      4.68     $     (1.39)
                                                    ===========     ===========

Weighted average number of limited
 partnership units                                       42,365          43,750
                                                    ===========     ===========

</TABLE>

                                      - 4 -

<PAGE>
<TABLE>


                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                            STATEMENTS OF CASH FLOWS

<CAPTION>

                                                             Three Months Ended
                                                                 March 31,

                                                            1998           1997
                                                        -----------    -----------
<S>                                                     <C>            <C>    
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)                                       $   200,223    $   (61,610)
Adjustments to reconcile net income (loss) to net
 cash provided by operating activities:
  Accrued interest on investment securities                     203         (6,365)
  Depreciation and amortization                             450,282        479,552
  Changes in assets and liabilities:
   Cash and equivalents - restricted                        (47,462)      (189,931)
   Accounts receivable                                      (34,535)         5,567
   Other assets                                             (13,218)       (24,556)
   Accounts payable                                           9,219         35,403
   Security deposits                                          3,003         (8,741)
   Other liabilities                                        204,779        192,787
                                                        -----------    -----------

  Net cash provided by operating activities                 772,494        422,106
                                                        -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES
Additions to land, buildings and amenities                 (178,111)        (3,937)
Purchase of investment securities                          (804,314)      (827,500)
Maturity of investment securities                         1,101,385        552,889
                                                        -----------    -----------

  Net cash provided by (used in) investing activities       118,960       (278,548)
                                                        -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgages payable                    (249,803)       (65,825)
Cash distributions                                         (213,687)      (216,692)
Repurchase of limited partnership units                    (157,200)       (31,500)
Additions to loan costs                                     (10,802)        (7,475)
Cash and equivalents - restricted                           157,200         31,500
                                                        -----------    -----------

  Net cash used in financing activities                    (474,292)      (289,992)
                                                        -----------    -----------

  Net increase (decrease) in cash and equivalents           417,162       (146,434)

CASH AND EQUIVALENTS, beginning of period                   276,891        640,541
                                                        -----------    -----------

CASH AND EQUIVALENTS, end of period                     $   694,053    $   494,107
                                                        ===========    ===========

Interest paid on a cash basis                           $   492,087    $   583,331
                                                        ===========    ===========

</TABLE>
                                      - 5 -

<PAGE>



                               NTS-PROPERTIES VI,
                         A Maryland Limited Partnership

                          NOTES TO FINANCIAL STATEMENTS


The  financial  statements  and  schedules  included  herein  should  be read in
conjunction  with the  Partnership's  1997 Annual Report.  In the opinion of the
General Partner,  all adjustments (only consisting of normal recurring accruals)
necessary for a fair presentation  have been made to the accompanying  financial
statements for the three months ended March 31, 1998 and 1997.

1.    Use of Estimates in the Preparation of Financial Statements
      -----------------------------------------------------------

      The  preparation  of financial  statements  in conformity  with  generally
      accepted  accounting  principles requires management to make estimates and
      assumptions that affect the reported amounts of assets and liabilities and
      disclosure  of  contingent  assets  and  liabilities  at the  date  of the
      financial  statements  and the  reported  amounts of revenues and expenses
      during the  reporting  period.  Actual  results  could  differ  from those
      estimates.

2.   Cash and Equivalents - Restricted
     ---------------------------------

     Cash and equivalents - restricted represents funds received for residential
     security  deposits,  funds which have been escrowed with mortgage companies
     for  property  taxes  in  accordance  with the loan  agreements  and  funds
     reserved  by the  Partnership  for the  repurchase  of limited  partnership
     Units.

3.   Investment Securities
     ---------------------

     Investment  securities represent  investments in Certificates of Deposit or
     securities issued by the U.S. Government with initial maturities of greater
     than three months.  The investments are carried at cost which  approximates
     market  value.  The  Partnership  intends  to  hold  the  securities  until
     maturity.  During  1997  and  1998,  the  Partnership  sold  no  investment
     securities.  The following  provides details regarding the investments held
     at March 31, 1998:

                                Amortized        Maturity         Value At
              Type                 Cost            Date           Maturity
              ----                 ----            ----           --------

     Certificate of Deposit     $  152,260       04/06/98       $  152,373

     Certificate of Deposit        101,507       04/15/98          101,718

     Certificate of Deposit        101,507       04/30/98          101,944

     Certificate of Deposit        102,045       05/08/98          102,569

     Certificate of Deposit        126,157       05/15/98          126,941

     Certificate of Deposit        125,791       05/29/98          126,834

     Certificate of Deposit        102,482       06/15/98          103,583

     Certificate of Deposit        150,647       06/29/98          152,567

     Certificate of Deposit        102,566       07/15/98          104,111

     Certificate of Deposit        200,575       07/30/98          204,027
                                 ---------                       ---------

                                $1,265,537                      $1,276,667
                                 =========                       =========



                                      - 6 -

<PAGE>



3.   Investment Securities - Continued
     ---------------------------------

     The following  provides details  regarding the investments held at December
     31, 1997:

                                 Amortized        Maturity         Value At
              Type                  Cost            Date           Maturity
              ----                  ----            ----           --------

     Certificate of Deposit     $  222,741        02/03/98        $  223,805

     Certificate of Deposit        205,392        02/12/98           206,654

     Certificate of Deposit        101,154        03/02/98           102,042

     Certificate of Deposit        101,246        03/12/98           102,272

     Certificate of Deposit        205,082        03/27/98           207,639

     Certificate of Deposit        125,678        03/30/98           127,336

     Certificate of Deposit        150,226        03/30/98           152,215

     Certificate of Deposit        150,226        04/06/98           152,373

     Certificate of Deposit        100,151        04/15/98           101,718

     Certificate of Deposit        100,151        04/30/98           101,944

     Certificate of Deposit        100,766        05/08/98           102,569
                                 ---------                         ---------

                                $1,562,813                        $1,580,567
                                 =========                         =========


4.   Mortgages Payable
     -----------------

     Mortgages payable consist of the following:


                                                  March 31,       December 31,
                                                     1998             1997
                                                  ---------       ------------
     Mortgage  payable with an insurance  
     company bearing  interest at 7.43%, due 
     May 14, 2009 secured by certain land,
     buildings and amenities                    $ 8,599,835        $ 8,724,588
     
     Mortgage payable with an insurance
     company bearing interest at 7.32%, due
     October 15, 2012 secured by certain
     land, buildings and amenities                8,366,225          8,447,975
     
     Mortgage payable with an insurance
     company bearing interest at 7.74%, due
     October 15, 2012 secured by certain
     land, buildings and amenities                5,000,000          5,000,000
     
     Mortgage payable with an insurance
     company bearing interest at 7.38%, due
     December 5, 2012 secured by certain
     land, buildings and amenities                2,794,020          2,820,000

                              (Continued next page)


                                      - 7 -

<PAGE>



                                                 March 31,       December 31,
                                                    1998             1997
                                                 ---------       ------------
     Mortgage  payable  with an  insurance  
     company  bearing  interest at 7.38%, due
     December 5, 2012 secured by certain
     land, buildings and amenities              $ 1,862,680      $ 1,880,000
                                                 ----------       ----------

                                                $26,622,760      $26,872,563
                                                 ==========       ==========


     Based on the borrowing  rates  currently  available to the  Partnership for
     mortgages  with  similar  terms and average  maturities,  the fair value of
     long-term debt is approximately $27,000,000.

     The mortgage payable with an outstanding  balance of $5,000,000 as of March
     31, 1998 has an additional availability of $7,200,000. The proceeds will be
     used to fund the  construction of Park Place Apartments Phase III. See Note
     7 Commitments and Contingencies for further information.

5.   Interest Repurchase Reserve
     ---------------------------

     Pursuant  to  Section  16.4  of  the  Partnership's  Amended  and  Restated
     Agreement of Limited Partnership,  the Partnership  established an Interest
     Repurchase  Reserve.  Through March of 1998, the  Partnership  has funded a
     total amount of  $1,479,730  to the Reserve.  Through  March 31, 1998,  the
     Partnership  has  repurchased  a  total  of  5,173  Units  for  $1,319,450.
     Repurchased Units are retired by the Partnership, thus increasing the share
     of ownership of each remaining  investor.  The Interest  Repurchase Reserve
     was  funded  from cash  reserves.  The  amount  remaining  in the  Interest
     Repurchase  Reserve at March 31, 1998 was $160,208.  These  remaining funds
     will be used by the Partnership to repurchase 534 Units at a price $300 per
     Unit.  The above  offering  price per Unit was  established  by the General
     Partner in its sole  discretion  and does not purport to represent the fair
     market value of liquidation  value of the Unit. See Note 8 Subsequent Event
     for additional information regarding the Interest Repurchase Reserve.

6.   Related Party Transactions
     --------------------------

     Pursuant to an agreement with the Partnership,  property management fees of
     $118,450  and  $116,814 for the three months ended March 31, 1998 and 1997,
     respectively,  were paid to NTS  Development  Company,  an affiliate of the
     General  Partner.  The  fee  is  equal  to  5% of  gross  revenues  of  the
     residential  properties  and 6% of the  gross  revenues  of the  commercial
     property.  The Partnership was also charged the following  amounts from NTS
     Development  Company  for the three  months  ended March 31, 1998 and 1997.
     These charges include items which have been expensed as operating  expenses
     - affiliated or professional  and  administrative  expenses  affiliated and
     items which have been capitalized as other assets or as land, buildings and
     amenities.


                                     1998            1997
                                  ----------      ----------
          Administrative          $   82,202      $   92,428
          Property manager           239,035         223,117
          Leasing                     54,535          64,219
          Construction manager        32,880            --
          Other                       11,986           1,352
                                  ----------      ----------

                                  $  420,638      $  381,116
                                  ==========      ==========

                                     - 8 -
<PAGE>

7.   Commitments and Contingencies
     -----------------------------

     The Partnership  began the  construction of Park Place Apartments Phase III
     (152  units)  subsequent  to March 31, 1998 on the 15 acres of land it owns
     which is adjacent  to the  existing  Park Place  Apartments  in  Lexington,
     Kentucky.  It is currently  estimated  that the cost of the project will be
     $9,000,000.  Construction  costs  will  be  funded  by the  remaining  loan
     proceeds  ($7,200,000)  of a mortgage  loan  obtained  during 1997 and cash
     reserves. Through March 31, 1998, approximately $180,000 of pre-development
     costs had been incurred.

8.   Subsequent Event
     ----------------

     Subsequent to March 31, 1998, the Partnership elected to fund an additional
     $120,000  to its  Interest  Repurchase  Reserve.  With  this  funding,  the
     Partnership  will be able to  repurchase up to 400 Units at a price of $300
     per Unit.  If the number of Units  submitted  for  repurchase  exceeds that
     which can be repurchased by the Partnership with the current funding, those
     additional Units may or may not be repurchased in subsequent  quarters with
     additional fundings.
















































                                      - 9 -

<PAGE>



Item 2.             MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                    -----------------------------------------------------------
                    AND RESULTS OF OPERATIONS
                    -------------------------

Results of Operations
---------------------

The  occupancy  levels at the  Partnership's  properties  as of March 31 were as
follows:


                                                           1998         1997
                                                         --------     --------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments                                       93%          91%

Park Place Apartments Phase I                               88%          90%

Willow Lake Apartments                                      97%          91%


Properties Owned in Joint Venture 
with NTS-Properties IV (Ownership % 
at March 31, 1998)
-----------------------------------

Golf Brook Apartments (96%)                                 96%          90%

Plainview Point III Office Center (95%)                     96%          91%


Rental and other income generated by the Partnership's  properties for the three
months ended March 31, 1998 and 1997 was as follows:


                                                       1998          1997
                                                     ---------     ---------
Wholly-Owned Properties
-----------------------

Sabal Park Apartments                                $ 444,228     $ 416,204

Park Place Apartments Phase I                        $ 438,876     $ 444,958

Willow Lake Apartments                               $ 549,510     $ 596,230

Properties Owned in Joint Venture 
with NTS-Properties IV (Ownership % 
at March 31, 1998)
-----------------------------------

Golf Brook Apartments (96%)                          $ 720,348     $ 673,410

Plainview Point III Office Center (95%)              $ 237,818     $ 180,064


Revenues shown in the table above for  properties  owned through a joint venture
represent only the Partnership's percentage interest in those revenues.














                                     - 10 -

<PAGE>



Results of Operations - Continued
---------------------------------

Sabal Park Apartments'  occupancy increased from 91% at March 31, 1997 to 93% at
March 31,  1998.  Average  occupancy  for the three month  period ended March 31
increased from 91% in 1997 to 93% in 1998.  Occupancy at residential  properties
fluctuate on a continuous basis.  Period-ending  occupancy percentages represent
occupancy only on a specific date; therefore,  it is more meaningful to consider
average  occupancy  percentages  which  are more  representative  of the  entire
period's results. Rental and other income at Sabal Park Apartments increased for
the three  months ended March 31, 1998 as compared to the same period in 1997 as
a result of the increase in average  occupancy,  decreased rent  concessions and
increased rental rates.

Park Place Apartments  Phase I's occupancy  decreased from 90% at March 31, 1997
to 88% at March 31,  1998.  Average  occupancy  for the three month period ended
March 31 increased from 88% in 1997 to 89% in 1998.  Rental and other income and
Park Place  Apartments  Phase I decreased  for the three  months ended March 31,
1998 as compared to the same period in 1997  primarily  as a result of increased
rent concessions.

Willow Lake Apartments' occupancy increased from 91% at March 31, 1997 to 97% at
March 31,  1998.  Average  occupancy  for the three month  period ended March 31
increased from 91% in 1997 to 93% in 1998. Rental and other income decreased for
the three  months ended March 31, 1998 as compared to the same period in 1997 as
a result of increased rent concessions.

Golf Brook Apartments'  occupancy increased from 91% at March 31, 1997 to 96% at
March 31,  1998.  Average  occupancy  for the three month  period ended March 31
remained constant at 93% for both 1997 and 1998. Rental and other income at Golf
Brook apartments increased for the three months ended March 31, 1998 as compared
to the same period in 1997 primarily as a result of decreased  rent  concessions
and increased rental rates.

The 5% increase in occupancy at Plainview Point III Office Center from March 31,
1997 to March 31,  1998 is the result of one new lease for  approximately  4,800
square feet. Partially offsetting the new lease is the downsizing of an existing
tenant of approximately  1,600 square feet. Average occupancy  increased for the
three  months  ended March 31 from 91% in 1997 to 93% in 1998.  Rental and other
income increased at Plainview Point III Office Center for the three months ended
March 31, 1998 as compared to the same period in 1997 as a result of an increase
in common area  expense  reimbursements.  Leases at  Plainview  Point III Office
Center  provide for tenants to  contribute  toward the payment of  increases  in
common area maintenance expenses, insurance, utilities and real estate taxes.

If present  trends  continue,  the  Partnership  will be able to continue at its
current  level  of  operations  without  the need of any  additional  financing.
Current  occupancy  levels are considered  adequate to continue the operation of
the Partnership's properties.

Interest and other income includes income from  short-term  investments  made by
the  Partnership  with cash reserves.  Interest  income  increased for the three
months  ended  March 31, 1998 as compared to the same period in 1997 as a result
of increased cash reserves being available for investment.

Operating  expenses  decreased  for the three  months  ended  March 31,  1998 as
compared to the same period in 1997  primarily as a result of  decreased  repair
and  maintenance  costs  at  Park  Place  Apartments  Phase  I and  Willow  Lake
Apartments and decreased  replacement costs (wallcovering and vinyl flooring) at
Park Place  Apartments  Phase I.  Operating  expenses for the three month period
remained fairly  constant at Sabal Park  Apartments,  Golf Brook  Apartments and
Plainview Point III Office Center.






                                     - 11 -

<PAGE>



Results of Operations - Continued
---------------------------------

Operating  expenses - affiliated  remained  fairly constant for the three months
ended  March 31,  1998 as compared  to the three  months  ended March 31,  1997.
Operating  expenses - affiliated are expenses incurred for services performed by
employees of NTS Development Company, an affiliate of the General Partner of the
Partnership.

Interest expense decreased for the three months ended March 31, 1998 as compared
to the same period in 1997 primarily due to the  Partnership's  decreasing  debt
level as a result of principal payments made and a result of new debt financings
at lower interest rates which were obtained May 15, September 12, and October 8,
1997. The $9,200,000 mortgage,  which was paid off May 15, 1997, had an interest
rate of 8.625% compared to 7.43% on the new $9,000,000  loan. The  approximately
$8,500,000  which was paid off September 12, 1997, had an interest rate of 9.20%
compared to 7.32% on the new $8,500,000 loan. The  approximately  $3,900,000 and
$950,000 mortgages, which were paid off October 8, 1997, had an interest rate of
8.375%  compared to 7.74% on the new  $5,000,000  loan.  See the  Liquidity  and
Capital  Resources  section of this item for details regarding the Partnership's
debt.

Management  fees are  calculated as a percentage of cash  collections;  however,
revenue  for  reporting  purposes  is on the  accrual  basis.  As a result,  the
fluctuations of revenues  between  periods will differ from the  fluctuations of
management fee expense.

Real estate  taxes for the three  months ended March 31, 1998 as compared to the
same period in 1997 remained fairly constant.

Professional  and  administrative  expenses for the three months ended March 31,
1998 as compared to the same period in 1997  decreased  primarily as a result of
decreased outside accounting fees.

Professional and  administrative  expenses - affiliated  decreased for the three
months ended March 31, 1998 as compared to the three months ended March 31, 1997
as a result of decreased salary costs.  Professional and administrative expenses
- affiliated  are expenses  incurred for services  performed by employees of NTS
Development Company, an affiliate of the General Partner of the Partnership.

Depreciation  and  amortization  decreased  for the three months ended March 31,
1998 as  compared to the same period in 1997 due to a portion of the assets with
shorter lives at the  Partnership's  residential  properties having become fully
depreciated.  Depreciation is computed using the  straight-line  method over the
useful  lives of the  assets  which are 5 - 30 years for land  improvements,  30
years for buildings, 5 - 30 years for building and improvements and 5 - 30 years
for amenities.  The aggregate cost of the  Partnership's  properties for Federal
tax purposes is approximately $71,500,000.

Liquidity and Capital Resources
-------------------------------

Cash provided by operations was $772,494 and $442,106 for the three months ended
March 31, 1998 and 1997,  respectively.  These funds in conjunction with cash on
hand were used to make a 2% (annualized)  cash  distribution of $211,040 for the
three months ended March 31, 1998 and a 2%  (annualized)  cash  distribution  of
$216,293 for the three months ended March 31, 1997. The annualized  distribution
rate is  calculated  as a percent  of the  original  capital  contribution.  The
limited  partners  received  99%  and the  general  partner  received  1% of the
distributions.  The primary  source of future  liquidity  and  distributions  is
expected to be derived from cash generated by the Partnership's properties after
adequate  cash  reserves are  established  for future  leasing and tenant finish
costs. Cash reserves (which are unrestricted cash and equivalents and investment
securities  as shown on the  Partnership's  balance  sheet as of March  31) were
$1,959,590 and $1,860,350 at March 31, 1998 and 1997, respectively.


                                     - 12 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

As of March 31, 1998,  the  Partnership  had a mortgage  payable to an insurance
company in the amount of $8,599,835. The mortgage bears interest at a fixed rate
of  7.43%,  is due May 14,  2009 and is  secured  by the  assets  of Golf  Brook
Apartments. The monthly principal payments are based upon a 12-year amortization
schedule. At maturity,  the loan will have been repaid based on the current rate
of amortization.

As of March 31, 1998,  the  Partnership  had a mortgage  payable to an insurance
company in the amount of $8,366,225. The mortgage bears interest at a fixed rate
of 7.32%,  is due  October  15, 2012 and is secured by the assets of Willow Lake
Apartments.   The  monthly  principal   payments  are  based  upon  a  15-  year
amortization  schedule. At maturity, the loan will have been repaid based on the
current rate of amortization.

As of March 31, 1998,  the  Partnership  had a mortgage  payable to an insurance
company in the amount of  $12,200,000.  The  outstanding  balance of the loan at
March 31, 1998 was  $5,000,000.  The mortgage  bears interest at a fixed rate of
7.74%,  is due  October  15,  2012 and is  secured  by the  assets of Park Place
Apartments Phase I and Park Place Apartments Phase III (to be constructed).  The
remaining  $7,200,000 loan proceeds will be advanced during the  construction of
Park  Place  Apartments  Phase  III,  as  needed,  in  accordance  with the loan
agreement.  Until  the  construction  of  Park  Place  Apartments  Phase  III is
complete,  the mortgage will require only monthly  interest  payments.  Upon the
completion of Park Place  Apartments Phase III, the monthly  principal  payments
will be based upon a 19-year amortization  schedule.  Due to the fact that it is
not known  when  principal  payments  will  begin,  the  outstanding  balance at
maturity can not be determined at this time.

As of March 31,  1998,  the  Partnership  had two  mortgage  loans  each with an
insurance  company in the amounts of $2,794,020  and  $1,862,680  for a total of
$4,656,700.  Both  mortgages  bear  interest  at a fixed rate of 7.38%,  are due
December 5, 2012,  and are secured by the assets of Sabal Park  Apartments.  The
monthly principal payments are based upon a 15-year  amortization  schedule.  At
maturity,  the  mortgage  will have been repaid  based upon the current  rate of
amortization.

The  majority  of  the  Partnership's   cash  flow  is  derived  from  operating
activities.  Cash  flows used in  investing  activities  are for  tenant  finish
improvements  and other capital  improvements at the  Partnership's  properties.
Changes to current  tenant finish  improvements  at commercial  properties are a
typical part of any lease negotiation. Improvements generally include a revision
to the current  floor plan to  accommodate a tenant's  needs,  new carpeting and
paint  and/or  wallcovering.  The  extent  and  cost of these  improvements  are
determined by the size of the space and whether the  improvements  are for a new
tenant or incurred  because of a lease renewal.  The tenant finish  improvements
and other capital additions were funded by cash flow from operations. Cash flows
used in investing activities are also for the purchase of investment securities.
As part  of its  cash  management  activities,  the  Partnership  has  purchased
Certificates of Deposit or securities issued by the U.S. Government with initial
maturities  of  greater  than  three  months to  improve  the return on its cash
reserves.  The Partnership  intends to hold the securities until maturity.  Cash
flows  provided  by  investing  activities  are  derived  from the  maturity  of
investment  securities.  Cash flows used in  financing  activities  are for cash
distributions,  principal payments on mortgages  payable,  repurchase of limited
partnership  Units and payment of loan costs.  Cash flows  provided by financing
activities  represent  the  utilization  of cash which has been  reserved by the
Partnership  for the repurchase of limited  partnership  Units.  The Partnership
does not expect any  material  changes in the mix and  relative  cost of capital
resources from those in 1997 except for the following: 1) changes resulting from
the new debt  financings  obtained  by the  Partnership  during  1997 and 2) the
construction of Park Place Apartments Phase III, as discussed below.

                                     - 13 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

The  demand on future  liquidity  is  expected  to  increase  as a result of the
Partnership's plans to begin the construction of Park Place Apartments Phase III
(152  units)  during the Spring of 1998 on the 15 acres of land it owns which is
adjacent to the existing  Park Place  Apartments  in  Lexington,  Kentucky.  The
construction  of  the  apartments  began  subsequent  to  March  31,1998.  It is
currently   estimated   that  the  cost  of  the  project  will  be  $9,000,000.
Construction  costs  will be  funded  by the  $7,200,000  of loan  proceeds,  as
discussed  above,  and cash  reserves.  Through  March 31,  1998,  approximately
$180,000 of pre-development  costs had been incurred.  As of March 31, 1998, the
Partnership had no material commitments for renovations or capital improvements.
It is  anticipated  that the cash flow from  operations,  cash reserves and loan
proceeds will be sufficient to meet the needs of the Partnership.

The Partnership has conducted a comprehensive  review of its computer systems to
identify  the  systems  that  could be  affected  by the Year 2000  Issue and is
developing an  implementation  plan to resolve the issue. The Year 2000 Issue, a
worldwide  problem,  is the result of computer  programs being written using two
digits rather than four to define the applicable year. Any of the  Partnership's
programs  that have  time-sensitive  software may recognize a date using "00" as
the year 1900  rather  than the year 2000.  This could  result in major  systems
failures or  miscalculations.  The  Partnership  presently  believes that,  with
modifications  to existing  software and  conversions to new software,  the Year
2000  problem   will  not  pose   significant   operational   problems  for  the
Partnership's   computer   systems.   The  Partnership   continues  to  evaluate
appropriate  courses of  corrective  action,  including  replacement  of certain
systems whose  associated  costs would be recorded as assets and amortized.  The
Partnership does not expect the costs associated with the resolution of the Year
2000 Issue to have a material  effect on its  financial  position  or results of
operations.  The associated costs will be funded by cash flow from operations or
cash reserves. The amount expensed in 1998 was immaterial.

Pursuant to Section 16.4 of the Partnership's  Amended and Restated Agreement of
Limited Partnership, the Partnership established an Interest Repurchase Reserve.
Through March 1998, the  Partnership  has funded a total amount of $1,479,730 to
the Reserve.  Through March 31, 1998 the  Partnership has repurchased a total of
5,173 Units for $1,319,450.  Repurchased  Units are retired by the  Partnership,
thus increasing the share of ownership of each remaining investor.  The Interest
Repurchase  Reserve was funded from cash reserves.  The amount  remaining in the
Interest  Repurchase  Reserve at March 31, 1998 was  $160,208.  These  remaining
funds will be used by the Partnership to repurchase 534 Units at a price of $300
per Unit.  The above  offering  price per Unit was  established  by the  General
Partner in its sole discretion and does not purport to represent the fair market
value or liquidation  value of the Unit.  See below for  additional  information
regrading the Interest Repurchase Reserve.

Subsequent  to March 31, 1998,  the  Partnership  elected to fund an  additional
$120,000 to its Interest Repurchase Reserve.  With this funding, the Partnership
will be able to  repurchase  up to 400 Units at a price of $300 per Unit. If the
number of units  submitted for repurchase  exceeds that which can be repurchased
by the Partnership with the current  funding,  those additional units may or may
not be repurchased in subsequent quarters with additional fundings.








                                     - 14 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

The table below  presents  that portion of the  distributions  that  represent a
return of capital on a Generally  Accepted  Accounting  Principle  basis for the
three months ended March 31, 1998 and 1997. These  distributions  were funded by
cash flow derived from operating activities.


                        Net Income                Cash
                          (Loss)              Distributions         Return of
                        Allocated                Declared            Capital
                        ---------                --------            -------

Limited Partners:
       1998              $ 198,221              $ 208,930           $ 10,709
       1997               (60,994)                214,130            214,130

General Partner:
       1998              $   2,002              $   2,110           $      8
       1997                  (616)                  2,163              2,163

In an effort to continue to improve occupancy at the  Partnership's  residential
properties,  the  Partnership  has an on-site  leasing  staff,  employees of NTS
Development Company, at each of the apartment communities. The staff handles all
on-site visits from potential  tenants,  coordinates  local advertising with NTS
Development  Company's  marketing  staff,  makes  visits to local  companies  to
promote  fully  furnished  units and  negotiates  lease  renewals  with  current
residents.

The leasing and renewal  negotiations for the Partnership's  commercial property
are handled by leasing agents,  employees of NTS Development Company, located in
Louisville,  Kentucky.  The leasing  agent's are located in the same city as the
commercial property.  All advertising for the commercial property is coordinated
by NTS Development Company's marketing staff located in Louisville, Kentucky.

Leases at Plainview  Point III Office  Center  provide for tenants to contribute
toward the payment of increases in common area maintenance expenses,  insurance,
utilities  and real estate  taxes.  Leases at the office center also provide for
rent increases which are based upon increases in the consumer price index. These
lease provisions,  along with the fact that residential leases are generally for
a period of one year,  should  protect  the  Partnership's  operations  from the
impact of inflation and changing prices.

The Partnership owns approximately 15 acres of land,  adjacent to the Park Place
Apartments  development,  in Lexington,  Kentucky (Park Place  Apartments  Phase
III). Included in the cost of approximately $1,800,000 is land cost, capitalized
interest,  common area costs, amenity costs and pre-development costs associated
with the  construction of Phase III. The Partnership  intends to use the land to
construct Park Place  Apartments  Phase III.  Construction  began  subsequent to
March 31, 1998. In management's  opinion,  the net book value  approximates  the
fair market value.

Some of the statements included in Item 2, Management's  Discussion and Analysis
of  Financial  Condition  and Results of  Operations,  may be  considered  to be
"forward-looking  statements" since such statements relate to matters which have
not yet occurred.  For example,  phrases such as the Partnership  "anticipates",
"believes" or "expects" indicate that it is possible that the event anticipated,
believed or expected may not occur. Should such event not occur, then the result
which  the  Partnership  expected  also may not  occur  or occur in a  different
manner, which may be more or less favorable to the Partnership.  The Partnership
does not  undertake  any  obligations  to  publicly  release  the  result of any
revisions to these  forward-looking  statements  that may be made to reflect any
future events or circumstances.


                                     - 15 -

<PAGE>



Liquidity and Capital Resources - Continued
-------------------------------------------

Any forward-looking  statements included in Management's Discussion and Analysis
of Financial  Condition and Results of Operations,  or elsewhere in this report,
which reflect  management's best judgment based on factors known,  involve risks
and uncertainties. Actual results could differ materially from those anticipated
in any forward-looking  statements as a result of a number of factors, including
but  not  limited  to  that  which  is  discussed  below.  Any   forward-looking
information  provided by the Partnership pursuant to the safe harbor established
by recent  securities  legislation  should be  evaluated in the context of these
factors.

The  Partnership's  principal  activity  is  the  leasing  and  management  of a
commercial office building and apartment complexes. If a major commercial tenant
or a large number of apartment lessees default on their lease, the Partnership's
ability to make  payments  due under its debt  agreements,  payment of operating
costs and other  partnership  expenses  would be directly  impacted.  A lessee's
ability to make  payments are subject to risks  generally  associated  with real
estate,  many of which are beyond  the  control  of the  Partnership,  including
general or local economic conditions,  competition,  interest rates, real estate
tax rates, or other operating expenses and acts of God.

                                     - 16 -

<PAGE>



PART II.  OTHER INFORMATION

1.    Legal Proceedings
      -----------------

      None

2.    Changes in Securities
      ---------------------

      None

3.    Defaults upon Senior Securities
      -------------------------------

      None

4.    Submission of Matters to a Vote of Security Holders
      ---------------------------------------------------

      None

5.    Other Information
      -----------------

      None

6.    Exhibits and Reports on Form 8-K
      --------------------------------

      (a)     Exhibits

              Exhibit 27. Financial Data Schedule

      (b)     Reports on Form 8-K

              There were no reports on Form 8-K for the three months ended March
              31, 1998.





                                     - 17 -

<PAGE>



                                   SIGNATURES


Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.


                                         NTS-PROPERTIES VI, a Maryland Limited
                                         Partnership
                                         -------------------------------------
                                                      (Registrant)


                                          By: NTS-Properties Associates VI,
                                              General Partner
                                              By: NTS Capital Corporation,
                                                  General Partner


                                                  /s/ John W. Hampton
                                                  -------------------
                                                  John W. Hampton
                                                  Senior Vice President


Date:    May 14, 1998
         ------------


                                     - 18 -

<PAGE>