Hi Les, I attended your HUD 101 training and it was very helpful to our staff and myself.  Thank you.  I have a new client that just received their cost certification.  They have a fairly new assisted living facility and are still in the lease-up period.  As part of the Prop-co HUD financing, they secured a “Escrow Agreement for Operating Deficits – section 232.”  My question is how does the draws on this escrow get accounted for on the prop-co and the op-co?  The Prop-co is the entity with the HUD mortgage and the escrow agreement.  The Prop-co leases the building to the Op-Co.  The Op-co is the entity that is going to experience these operating deficits, but the prop-co is the one with the right to draw the funds.  Does the Op-co just transfers the deficit to the Prop-co?  Or, does the Prop-co draw the funds and lend it to the op-co?  I appreciate any input you have on this situation.  Thank you.