You may even consider amending past returns and capitalizing more maint/repair expenses if it was a bit gray, or a series of repairs were all being done in a short period of time, such as during a vacancy.If the 2011 tax returns had issues that can't be surmounted, and 2012 is looking better, then wait until he files 2012 and use those results.

Refigeration can be an issue, three dump sink, grease trap, gray/blackwater holding, screens over lights, fire suppression if you have fryers or stoves.

You can now start looking for gray hair and pull them out...:)

@Precious Thompson I only include the fees that I, as the owner, will be carrying as operating expenses, when I do my analysis of a property.

Outside of cannabis-specific coverage, there can be a gray area.  

I am sure it can and is done regularly, but it is a gray area and must be handled with care and integrity. 

IIRC, 5 votes got a shade of gray, and 10 votes got a bluish shade.

Red will look gray and wash out, in terms of contrast, to the color blind men looking at it. 

For Cashflow and Types of Tenants.The Fenway in Boston, Massachusetts, talk about high density and big bucks, you better be ready to treavel;-)PS Interesting picture but you look a little gray!

Discretion mostly comes into play when things are in the gray zone (e.g. everything qualifies but one thing that is just below the criteria).So if you are well qualified or poorly qualified, their discretion matters less and less.