One went for over what I expect a wholesaler would have sold.  

We expect to continue to acquire properties as a group.At the moment, I've been collecting recommendations on suitable attorneys. 

Hi @Pinny T.!

Although I am not sure how to enforce this one, there should be active, on-going communication from the the borrower to the lender .... as one would expect from a GP/Operator to the LPs in a private equity syndication. 

I know very little about legal precedent but I'd expect the major meter manufactures (selling into the utility space) to be well incentived to challenge these items best they can, and they have money.Here are the issues, and the reasons that the difference between an air forced system and a boiler/hydronic system are not meaningful for this discussion (ie efficacy issues of sub metering exist for either when method of measurement is measuring heat at point of delivery):In either case, the blower (or pump for a boiler) is the method of 'moving' either air (central air) or water/glycol or equivalent (boiler etc). 

He is working on getting this number for me, but they only expect it to be around 60-70k, which I most likely will get a private lender to come up with that money.

In one instance I was told that the seller was expecting 92 to 94% of UPB, which was in that scenario equivalent to a 85% LTV, and I thought this was too high for the amount of risk and unknown involved.I would love to be buying these around 50 to 60% LTV but don t know if that s realistic currently?

My advise is to just set realistic expectations (I can help with that!)

If you get it back expect to pay a good amount in legal feesIf you’re friend did the same they are up the creek too.Hard lesson to learn.

Also, if it's a one-time bonus, you may want to push only a portion to next year if that minimizes the total taxes you pay over the two years based on your expected tax brackets.