Am I incorrect?

I will remember that in the future.Really like with Jon's response, how you can explain the formula to the tenants so they see how you are being fair and not "just trying to get new carpet out of them" as some maybe incorrectly assume.

If the capacity for your partner is incorrect (e.g., it says he signed as Managing Member when that was not accurate) then he misrepresented his authority.

Both statements would be incorrect, right!

A couple of perhaps incorrect assumptions seem to be at play here.

I also cleared up a fallacy written by another poster who answered the original question  regarding number of VA loans allowed incorrectly.

If that is the case, then I personally wouldn’t be paying him and have an on site meeting, with that text asking him why he installed the incorrect tile.

The lender then sold the property to my company's insured and used the incorrect legal.  

A few nuances here related to the numbers:List Price: $449kFirst Offer Received Buyer X: $465k w/ $95k down (with appraisal continency) Final Accepted Offer from Buyer X: $480k w/ $48k down (appraisal contingency removed)Bad Appraisal: $440k (should have been appealed with ROV due to errors but buyer declined; average age of comps was 11.5 months and no inflation was added to adjust values, also appraiser used incorrectly small square footage)Buyer's Original 90LTV Loan: $432k ($480k w/ $48k down)Buyer's "Final" Loan Application: ????

I think the way I was viewing the VAT is the difference there, not that I received incorrect information.