One evidence shelf for two audiences: HUD and your investor

Tax-credit properties report the same physical facts twice — once in HUD's deficiency language and once in an investor or asset-management format. The work doubles only when the evidence is collected twice. Keep one evidence shelf: dated before-and-after photos, work orders, invoices, and test logs, filed per item per unit, and let each report pull from it. The translation between audiences then happens at the summary level, where it is cheap, instead of at the photo level, where it means re-walking units. The test of the shelf: pick any deficiency from last year and produce its full proof in under five minutes. Can your files pass that test today? — Otto Mergl, Admin