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>>a letter from me explaining that client either owns that location or doesn't<< Odd question from a lender--they are going to run their own title search anyway, so it makes no sense for you to speculate on the matter. Tell your client you can only provide a generic statement (delivered to the client, not the lender) that you prepared the tax return solely from information provided by the client without independent verification, and that your work is only intended to comply with the tax laws and may not be suitable for any other purpose.

Personally, I advise people to shoot for a zero sum return. However, if they tell me they need a refund for whatever reason, I am perfectly happy to help them plan that way. I don't think it is always about what I thinkt is the best choice - it is about what the client needs. And for some people, they can't save if they get their hands on the money so withholding for taxes is one way to enforce saving.