You guys really have to read his explanation (and answer) to your *exact* question there.But you should also know what you are doing.He can prove it to you if the sponsor keep buying and selling MF within 2 - 3 years you are actually losing money with all the transaction cost.

Here's my best explanation.

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor. 

In early 2023, retailer “Tuesday Morning” filed for Chapter 11 bankruptcy ( Link ), which was only months after REV purchased a controlling stake in the company for $35 million.The point of this explanation is the absence of any mention or connection to Marco Santarelli or Norada Capital Management.The entire business model that is said to be a material part of generating the revenue to pay the returns of up to 17% annually appears to be a complete fabrication.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

Randy Hi Randy, Thank you so much for your reply and explanation.

For a detailed explanation, see an earlier comment by @Ashish Acharya.Assumptions are not controversial, either.

Brownfield credits missed, no explanation on why.

@Chris Clothier Great explanation.

It's nice to see some math justifying your explanation even with the many variables of uncertainty.