Some of the items on these inspections are....upsetting.

There is still some time to get deals to feel happy about now and in time you might be upset about those deals or very happy.

Now I am upset , next somebody will say there is no Santa Clause ? 

@Pat Jackson I would take a step back, 8 days of rental and you’re upset about S&P and EVOO.

If the projections are OFF by 20%, (meaning the sales price is 20% lower than projected and NOI is 20% lower) the investor's money is stuck in the deal as the syndicator will not be able to sell the property at a gain.If I am the passive investor (which I am in some deals), I will be upset that my money only made 8% per year and it's stuck in the property.In contrast, we give only 30% of the equity to our investors but we promise our investors double digit IRR (18%+).

who would be more upset, if they understood this.Can you imagine what would happen if your buyer chose for some reason to foreclose their lien on a property you don't own?

For us we're looking at the little victories, the fundamentals. 

So let’s not count what has not happened as victory.

At this point I have historically advised clients to disregard the letter, and even talked to some lenders who have become upset over this.

And there are some personal preferences in there, like adding 5% for recurring payment dates later than the 1st, because it does slightly upset my business structure.