They're very different thankfully so it feels like there's always at least one who's acting like a normal human being...A defeasance is something that happens on commercial properties when a securitized loan (like a CMBS [commercial mortgage-backed security] or agency loan) needs to be paid off early, either when you're refinancing or selling your property that has a loan on it.

You get the benefits of real estate without the headaches of mortgages, rehabs, or tenants.𝗧𝗵𝗲 𝗖𝗼𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝘃𝗲 𝗔𝘀𝘀𝗶𝗴𝗻𝗺𝗲𝗻𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 is a unique way to raise cash by helping sellers secure a tenant-buyer who wants to own the home in the near future.

Even if they do pay all the taxes, they don't get to use the benefits they are paying for (medicare, social security, etc.).

My short-term goal is to secure my first single-family and rental property, while my long-term vision is to build a thriving real estate portfolio that generates wealth and financial freedom.I’m currently learning the ins and outs of financing, deal analysis, and market selection.

My goal is to create financial security for retirement.

Most tenants pay using secure ACH transfers from their account to mine.

It sounds like you’ve got a solid plan in place with the bank refinance to secure long-term financing.

Although there is no way to prove this, (I reside in FL; the investment property is in AL) my GC tells me the unit was secured by a cage and bolted down.  

A realtor who used to have a PM company called "JBS Realty" until this month.He used to manage 8 of my properties and is currently refusing to pay out multiple 5-figures worth of rents/property reserves/security deposits/unpaid utility bills owed. 

Very few allow any subordinate financing below their note but I do have ONE that allows 90% CLTV (they loan 75% and allow you to secure a 15% seller carryback as long as you come in with 10%).