However I probably should point out that a 25-35% drop in rents with me covering my fixed costs in addition to a 10%  capex fund. so realistically I can take a 35-45% hit and still stay solvent.

If this was not a new build but a (sale leaseback) you have to be careful as to why the business wanted to recapitalize and if they are solvent or having problems.

But Keynes has a great quote that sums up the current madness: "The market can remain irrational longer than you can remain solvent."

And then with respect to the lender, is it a roll of the dice to notify them, or is it prudent to make the “subject to” deal solvent and viable?

That said, I'm not sure this is an optimal long-term strategy for scaling a business, but I believe it is necessary to stay solvent as a new investor.

If you can't afford $40, you ain't solvent.

Should they know if the HOA is solvent?

Do use bleach or any solvents on carpet. 

You also need to be solvent and pay your debts. 

Really good info--I had heard that NFIA sounds less sustainable (solvent?)