Executive Summary Edition

You can improve operations and still lose the deal.
You can lose money and still owe taxes.
“Non-recourse” doesn’t always mean no personal risk.
Your lender can rebalance your loan and demand millions.
These aren’t hypotheticals. They really happened.
What actually caused multifamily deals to collapse
The hidden risks inside floating-rate debt
How rate cap timing destroyed operators
Why cap rate expansion wiped out equity
The clauses in your loan documents you probably skipped
The partnership mistakes that cost six figures