content: SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC 20549
  
                                      FORM 8-K
  
                               Current Report Pursuant
                            to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
         Date of report (Date of earliest event reported) September 22, 2003
  
                                 Knight Fuller, Inc.
                 ---------------------------------------------------
                (Exact Name of KFI O.P. as Specified in Its Charter)
  
                                      Delaware
                                      --------
                   (State or Other Jurisdiction of Incorporation)
  
                 333-87968                           45-0476087
             ----------------                    -------------------
         (Commission File Number)        (I.R.S. Employer Identification No.)
  
             150 Post Street, Suite 405, San Francisco, California 94108
          ----------------------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
                                   (415) 788-1441
                                   --------------
                 (KFI O.P.'s Telephone Number, Including Area Code)
  
                                         N/A
                                         ---
            (Former Name or Former Address, if Changed Since Last Report)
  
  
  <PAGE>
  
  Item 2. Acquisition or Disposition of Assets
  
  As of September 22, 2002, Resources Accrued Mortgage Investors L.P.-Series 86
  ("RAM 86") had received written consents of its limited partners sufficient to
  approve the merger of RAM 86 into the KFI Properties, L.P. ("KFI O.P."), a
  limited partnership controlled by Registrant, and the exchange of RAM 86 units
  of limited partnership interest for units of limited partnership interest in the
  KFI O.P. or common shares of Registrant, all as described in the registration
  statements (the "Registration Statements") on Form S-4 filed by KFI O.P. and
  Registrant (Registration Nos. 333-87968 and 333-87968-01), and the consent
  solicitation/prospectus (the "Prospectus") included in Part I of the
  Registration Statements. The vote was therefore terminated, the Agreement and
  Plan of Merger in the form attached to the Prospectus as Appendix C was executed
  and consummated as of such date, and a certificate of merger was filed with the
  Delaware Secretary of State on September 22, 2003 effecting the merger under
  Delaware law.
  
  RAM 86 had 330,004 units of limited partnership interest outstanding and
  entitled to vote on the proposed merger and exchange, and a total of 7,530 unit
  holders of record. As of the date the vote was terminated, RAM 86 had received
  votes approving the proposed merger and exchange from holders of a total of
  169,492 units (approximately 51.4% of the total outstanding units), votes
  disapproving the merger and exchange from holders of a total of 14,308 units
  (approximately 4.3% of the outstanding units), and votes abstaining from
  approval or disapproval from holders of a total of 2,920 units (or approximately
  0.9% of the outstanding units). A total of 69 holders and two of RAM 86's
  general partners elected to receive the KFI O.P.'s units of limited partnership
  interest rather than Registrant's common shares in return for their interests in
  RAM 86, and a total of 22,140 of KFI O.P.'s units were issued to these 71
  holders. In consummation of the balance of the exchange, a total of 325,233
  Registrant's common shares were issued to approximately 7,462 holders of record
  in exchange for their interests in RAM 86. Sutter Opportunity Fund 2, LLC, an
  affiliate of Registrant the manager of which is controlled by Robert Dixon, a
  director and co-chief executive officer of Registrant, was issued a total of
  126,118 of Registrant's common shares in exchange for a like number of RAM
  86 limited partnership units held in its name.
  
  The complete terms of the merger and exchange are set forth in the Prospectus
  attached as Exhibit 99.1 hereto.
  
  Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
  
  (b)  Pro Forma Financial Information
  
           Pro Forma Financial Information is included in the Consent
           Solicitation/Prospectus attached hereto as Exhibit 99.1 under the
           caption "Selected Financial Data, Including Unaudited Proforma
           Financial Information" and is incorporated herein by reference
  
  (c) Exhibits
  
   2.1         Form of Merger Agreement (included as Appendix C to the Consent
               Solicitation/Prospectus attached as Exhibit 99.1 to this
               Current Report, and incorporated herein by reference).
  
   99.1        Consent Solicitation/Prospectus
  
  
  
  
  
  <PAGE>
  
  
                                     SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  KFI O.P. has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized on this 14th day of October, 2003.
  
  
  
                                              Knight Fuller, Inc.
  
                                              By: /s/ Robert E. Dixon
                                              ------------------------------
                                              Robert E. Dixon
                                              Co-Chief Executive Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                         2
  <PAGE>
  
  
  
                                    EXHIBIT INDEX
  
  
  EXHIBIT                                                                 PAGE NO.
  --------                                                                --------
  
  2.1         Form of Merger Agreement (included as Appendix C to the Consent
              Solicitation/Prospectus attached as Exhibit 99.1 to this Current
              Report, and incorporated herein by reference).
  
  99.1        Consent Solicitation/Prospectus
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metadata_filer: {"company-data": {"conformed-name": "KNIGHT FULLER INC", "cik": "0001172939", "assigned-sic": "6500", "irs-number": "450476087", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-87968", "film-number": "03938906"}, "mail-address": {"street1": "150 POST STREET", "street2": "STE 405", "city": "SAN FRANCISCO", "state": "CA", "zip": "94108"}}
text: SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC 20549
  
                                      FORM 8-K
  
                               Current Report Pursuant
                            to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
         Date of report (Date of earliest event reported) September 22, 2003
  
                                 Knight Fuller, Inc.
                 ---------------------------------------------------
                (Exact Name of KFI O.P. as Specified in Its Charter)
  
                                      Delaware
                                      --------
                   (State or Other Jurisdiction of Incorporation)
  
                 333-87968                           45-0476087
             ----------------                    -------------------
         (Commission File Number)        (I.R.S. Employer Identification No.)
  
             150 Post Street, Suite 405, San Francisco, California 94108
          ----------------------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
                                   (415) 788-1441
                                   --------------
                 (KFI O.P.'s Telephone Number, Including Area Code)
  
                                         N/A
                                         ---
            (Former Name or Former Address, if Changed Since Last Report)
  Item 2. Acquisition or Disposition of Assets
  
  As of September 22, 2002, Resources Accrued Mortgage Investors L.P.-Series 86
  ("RAM 86") had received written consents of its limited partners sufficient to
  approve the merger of RAM 86 into the KFI Properties, L.P. ("KFI O.P."), a
  limited partnership controlled by Registrant, and the exchange of RAM 86 units
  of limited partnership interest for units of limited partnership interest in the
  KFI O.P. or common shares of Registrant, all as described in the registration
  statements (the "Registration Statements") on Form S-4 filed by KFI O.P. and
  Registrant (Registration Nos. 333-87968 and 333-87968-01), and the consent
  solicitation/prospectus (the "Prospectus") included in Part I of the
  Registration Statements. The vote was therefore terminated, the Agreement and
  Plan of Merger in the form attached to the Prospectus as Appendix C was executed
  and consummated as of such date, and a certificate of merger was filed with the
  Delaware Secretary of State on September 22, 2003 effecting the merger under
  Delaware law.
  
  RAM 86 had 330,004 units of limited partnership interest outstanding and
  entitled to vote on the proposed merger and exchange, and a total of 7,530 unit
  holders of record. As of the date the vote was terminated, RAM 86 had received
  votes approving the proposed merger and exchange from holders of a total of
  169,492 units (approximately 51.4% of the total outstanding units), votes
  disapproving the merger and exchange from holders of a total of 14,308 units
  (approximately 4.3% of the outstanding units), and votes abstaining from
  approval or disapproval from holders of a total of 2,920 units (or approximately
  0.9% of the outstanding units). A total of 69 holders and two of RAM 86's
  general partners elected to receive the KFI O.P.'s units of limited partnership
  interest rather than Registrant's common shares in return for their interests in
  RAM 86, and a total of 22,140 of KFI O.P.'s units were issued to these 71
  holders. In consummation of the balance of the exchange, a total of 325,233
  Registrant's common shares were issued to approximately 7,462 holders of record
  in exchange for their interests in RAM 86. Sutter Opportunity Fund 2, LLC, an
  affiliate of Registrant the manager of which is controlled by Robert Dixon, a
  director and co-chief executive officer of Registrant, was issued a total of
  126,118 of Registrant's common shares in exchange for a like number of RAM
  86 limited partnership units held in its name.
  
  The complete terms of the merger and exchange are set forth in the Prospectus
  attached as Exhibit 99.1 hereto.
  
  Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
  
  (b)  Pro Forma Financial Information
  
           Pro Forma Financial Information is included in the Consent
           Solicitation/Prospectus attached hereto as Exhibit 99.1 under the
           caption "Selected Financial Data, Including Unaudited Proforma
           Financial Information" and is incorporated herein by reference
  
  (c) Exhibits
  
   2.1         Form of Merger Agreement (included as Appendix C to the Consent
               Solicitation/Prospectus attached as Exhibit 99.1 to this
               Current Report, and incorporated herein by reference).
  
   99.1        Consent Solicitation/Prospectus
  SIGNATURES
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  KFI O.P. has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized on this 14th day of October, 2003.
  
                                              Knight Fuller, Inc.
  
                                              By: /s/ Robert E. Dixon
                                              ------------------------------
                                              Robert E. Dixon
                                              Co-Chief Executive Officer
  
                                         2
  EXHIBIT INDEX
  
  EXHIBIT                                                                 PAGE NO.
  --------                                                                --------
  
  2.1         Form of Merger Agreement (included as Appendix C to the Consent
              Solicitation/Prospectus attached as Exhibit 99.1 to this Current
              Report, and incorporated herein by reference).
  
  99.1        Consent Solicitation/Prospectus