It does not appear that we have done business with you before.

I'm sure that factored in to the government trying to find a way to gain ownership of the land and the only solution appeared to be a land swap. 

they're often much more expensive than they appear because they have deferred maintenance that has been adding up over decades. 

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?

On the face of things it appears you will have a hard time getting a +10% ConC return.

It is somewhat vague, so I will have to clarify with them, but it does appear that you can't transfer accounts.

That is how tragic this 12-year run of financial fraud appears to be as explained in this report on the Laguna Niguel, California based Norada Capital Management.

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Also, as others have noted the way you appear in a lenders eyes will change as soon as that $500k salary goes away.

However, you appear to be the type that doesnt really want to deal with some of the work or extra effort needed for those strategies.