Definitely check in with your state laws to clarify.

(Sh*t has definitely happened already...) 

I only ask to be heard, and to hear my story and perhaps for the newer investors who are just starting out it can shed light on how hard this path can be.  

Yes, definitely at the mid to senior Leadership levels.  

Your lender definitely should be able to count the 75%- I'm in Arlington and would be happy to connect you with my awesome lender who has been able to do all kinds of creative options to get to yes for me.

I am definitely not casting aspersions on Brian's character, or Praxis!

Those non-cash expenses definitely helped us out during tax season.2.

Both Carolinas are definitely markets I would look at. 

That path does not end up in a good place. 

From the side of being a sponsor and having worked with almost all of the firms being discussed to get investors into our fund (I can say quest was great to work with since they are no longer around), there are those that are definitely a lot easier to work with than others and some really drag on the paperwork process whereas others are great.