If I misunderstand the situation, please correct me.

I see now how that might lead to misunderstanding. 

There are good appraisers out there, so don't misunderstand what I am saying. 

So before 1986 you were correct.David,I think you are misunderstanding....99% is regular folks.  1% is top 1% income.  

Did I misunderstand, and/or is there a hole in my logic?

Eddie, Maybe I am misunderstanding what you are trying to say.

This is a key element of proper negotiation.I am just guessing, so please forgive any of my misunderstandings, but you stated you had a good and long-term relationship with the tenant.

If a person does not know any of these details, yes, they should stay away from anything CIC, but it's not because they are "bad", it's because it's an area one does not have knowledge and so the odd's of getting into a bad misunderstanding of things is high. 

. ;-)Plenty of court cases have been lost because people didn't follow the manufacturer's (lawyer's) directions and things went wrong.Oh, and yeah, the whole reason to even have a contract is to have something to clarify details and to have something to refer to in the event of a misunderstanding or if something goes wrong.Trust me, something will go wrong at some point. 

My guess is he or you misunderstand how interest acrues and is applied to amortizing mortages.