What they are telling you is true.

Challenges?

There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).

@Philip Beckwith typically in Michigan, you can only do a tax appeal in February.The instructions will be on the back of your winter tax bill.You will need to have great comparables to challenge the City Assessor's valuation.

Financing and Complexity: An LLC can make financing more challenging and expensive since banks often offer better terms on personal loans for real estate than LLC-held properties.

Maybe...There's not enough info here to even speculate, but it's absolutely true that properties can sell based on the highest and best use and not necessarily today's retail value. 

I oit's too much drama to do a wrap, it's not mutually beneficial to all parties and not a true deal (from my perspective anyway).  

Good Lord, given what he’s accomplished with his challenges (not just Quest, but also being a very good man), what in the heck is our excuse for doing less?

." - which to me indicates the same doubts that I have about the legality of the IRS position.Until the IRS is challenged in court over this position and loses, I choose to comply with their position.

If it's too good to be true -it's not true - sadly