I'm happy the rate decrease has been suspended, but you're way understating the impact on a $417K loan... $87/month.

Hopefully they will not chose to seize anything from operations that are legal under state law and where the prior administration openly said they would not enforce the federal law. 

I like to be understated in dress and automobile.  

The proforma expenses will be understated, and the rent will be top-of-the-market.  

You will be competing with a lot of investors who are here in person and to say it's competitive is understating it.  

Looking at the W-2 for 2014 his pretax deductions were $9307, so understates his gross pay. 

The next thing I see is that repairs are usually understated.

I was thinking of just adding a prohibition for illegal activities under state or federal law.

There are several basic mistakes:1.Over-Optimism: Most investors tend to exaggerate their own abilities. 2.Over-Confidence: Lends investors to overstate their knowledge, understate the risks, and exaggerate their ability to control the situation. 3.Cognitive Dissonance: Investors often have an incredible degree of self-denial. 4.Heuristic Rules: Rules of thumb that we employ for dealing with the daily information deluge by evaluating based on how closely a situation, person, etc., resembles someone or something, rather than examining and questioning; i.e., we "frame" and/or "anchor" the event/person/action.

Another aspect is that you may be saved under state law that could limit guarantees of minority stock- holders, as they can be and are, but not if they provide a guarantee voluntarily when the debt is created.I suggest that you see your attorney and address the by-laws with a hold harmless and indemnification agreement between stockholders and the assumption of debt with a personal guarantee by those admitted to the corporation between officers, directors and stockholders.