It's exactly that.When I see those stunningly low rates, invariably the underwriter can't tell me how many ways Fannie Mae calculates rental income and when each way is applicable, she can't tell me about net loss carryover, if I'm lucky she knows that you add back depreciation, she can't tell me about how to calculate Patronage Income for all the Berkeley-ites that work at worker-owned socialist co-ops, she can't tell me how much you add back for each business mile driven showing up on page 2 of Schedule C of tax returns, she doesn't know how Fannie and Freddie vary for S Corps, has no idea how transfer taxes work in the Bay Area because she is in Narnia, can't tell me anything about the California Association of Realtors Residential Purchase Agreement, et cetera. 

Yes, it's a complicated application process whereby you apply for the LIHTC prior to construction.  

I have done lots of reading, research, watching webinars and videos, and finally landing here at this website. 

Since then I have been reading books (Shoutout 21 Best Books), watching videos, and listening to all the BP podcasts!

I just watched a webinar from Government Funding Solutions and Sean Carpenter touting the benefits of Government Funding to fund your deals.

This should attract the most applicants, and give you the best chance at getting a good tenant.  

I received an application from a young couple before her and had started processing it before I had received hers(but i never mentioned that I had received another application). 

Since I had little knowledge of development and added little value to the deal itself, I asked for a very small percentage of their commission and the chance to be included on emails, phone calls and meetings when applicable. 

Watch to see how long they remain available.  

Pick them if they are better candidates than the other applicants.