Jon is dead on with his pro forma explanation.

Jon Holdman gave you a really good explanation.

I would like to hear your explanation for how ken McElroy and grant Cardon have amassed fortunes in buying and holding and then explain to everyone how buy and hold doesn't work

explanation.  

I'm interested in hearing answers and explanations from everyone so chime in!

Your thoughtful, heartfelt,  and detailed explanation has also opened reasserted the investor - more importantly human and focus - in me. 

Good luck with your close tomorrow.Aaron Churnick, thanks for the detailed explanation and really appreciate it.

Like I said, $250 should be the going rate in TX, but it is not the $350 cost that was the turn off to me, it was the explanation behind the reasoning for the higher cost.

Long story short, the appraiser's measurements are accurate and the sq ft in the tax records has been wrong for 40+ years from what we can tell - with no obvious explanation as to why they were off by so much.  

You just have to have the knowledge of where this is found and if and when the lender ever finds this (which they don't) then a half page letter citing the exception and a brief explanation covers this.