At least that is how I understood it.

If I understood the question correctly, My suggestion would be try to open the PDF as word, update the logo and publish it as PDF.

So the bottom line (if I understood correctly) that I should from LLC in the state where my properties are located, right ?

@Brian Campbell Fully understood.  

At least if I understood correctly. 

Ifunding did a great job of matking sure investors understood the offering. 

On the examples you showed, it could be that they just understood that on average, most people have NO imagination, and cannot visualize what could be on that site without the plans, and renderings.

I agree that my expenses could be refined above, and I have the hard numbers to support the cost associated with these units but I understood the 50% rule as being an ultra conservative metric that would cover CAPEX+Insurance, taxes, vacancies, etc...Also, the 100K is included in the loan payment but would likely not be financed, making the loan payment decrease.

The deal closed in 20 days with our us and our buyer who understood the terms going in.

If I understood correctly the warranty is only for the principal and those re-performing notes offer high returns (12%+) so all it takes is 8 years or less to have made your principal.