Every single person is going to have a different perception of what each category is.

The perception that those facts left us with was just that, a perception or opinion, which is subject to change. 

Mass layoffs in the private sector are more driven by perception than performance.I know plenty of people know this simple economic reality, but not all beginner investors looking to get their first cheap rental or two out in the sticks.

This can be very difficult at first, but its important because your tenant asking you if something is possible as opposed to holding it over your head or they're going to leave/stop paying rent etc. will largely be determined on their perception of you and what they can get away with.  

To go through the rigamarole of assigning TIC %s seems to be both unnecessary and dangerous because you are now flirting with a change or perception of change of ownership structure.Going into contract as your names does not hurt anything.  

PML don't charge points.. one it may be illegal and or they simply don't know they can or cannot.PML is someone you know personally.. anyone on the net or any other kind of advertising is NOT a private money lender they are a HML just trying to market them selves as a PML as there is a perception the money is cheaper as indicated above in some of the responses.for folks doing a deal or two a year PML can work.. anyone who is looking to scale will normally run PML out of money after a deal or two.. so really depends on what your trying to accomplish. 

(not to say that you are scamming people, just decribing the perception and perception can make or brake you in business.

My primary concern is the perception of nit picky third parties accustomed to reading P&L statements/what they'd perceive as normative for this kind of business.

@Martin Scherer Yeah, as Californians our perception of the market can sure get distorted.

IE for the perception of government paid rent.