Hope you didn't pay anything to an S8 "guru"!

But THANK you for you information and hope to continue the conversation.  

If you were only going to net 10k and the fees male you a lose then it was never a good deal.If you keep project costs less than 72.5% of the ARV then no lending can screw you. 

I hope one or more can get the attention of their state attorney general and the SEC.

I've seen landlords live in blissful ignorance for 5-10 years due to dumb luck, then their world comes crashing down and they lose everything.I have a book, there are some in the BP bookstore, or you can check out one of my personal favorites, Every Landlord's Legal Guide by NOLO.

I hope it works out ..

You have some people in here who are cool with and celebrate losing over $1,000 a month.

You are LOSING money because you didn't even raise rents to cover those increases!

That's 50k a year gone and you are losing tax write-offs and equity potential.

Hope that helps!