Competent sponsor, capital call large enough to completely escape existing toxic loan with cash-in refinance to a lower-balance loan with a long maturity—good outcome possible, even probable, if there is no other “hot money” in the deal such as preferred equity or priority share classes.There are surely other nuances I’ve missed here, but this is a start. 

It's expensive if one go to Stanford or private university, but if they go to State university, the cost is only $4K per semester still, it is soo cheap in any standard.I am about to say, people that came from third world country, is irritating when see American complaining for nothing.

Yea this is same thing like when we said MF Class A yield has 10% IRR, it's gross IRR, in real term post tax it's more like 8% IRR. 

They can get irritated all they want, but that wasn't ever going to stop me from getting what I needed to get.  

The capital gains in particular really irritated me because it felt like, after the pennies left over from taxes I then had to pay again.But I never worried about my fellow human in the way I worry about them here.

Toxic black mold is the worst.

The steady, but late pay, with late fee irritated me but my partner was ok with it.

While higher free cash flow will boost IRR, it is not the only factor for returns.

Not seeing any benefit to it, though.If you find it THAT irritating, maybe you could suggest to those tenants to make a double payment when they get their tax refund, holiday bonus or other additional income.

Rima and I keep people out of trouble with the highly-regulated toxic and hazardous materials - asbestos, lead, VOCs, soil and groundwater contamination, plus indoor air quality and the almost unregulated mold.