If they default wouldn't we get the land back?

This move had many anticipating a crash in the CRE market, with dire predictions of banks collapsing under the weight of defaulted loans.

If your interest only period is only 12 months, but you have tenants that are only renewing for a small increase in rent, or they elect to not renew and you have to get a new tenant in there, the income that property is producing is negatively affected at the same time your monthly loan payment is going higher, creating the perfect storm for a loan to go into default.

A lot of times I see questions like this and the real answer is "what does the lease say".If a lease isn't clear as to who is responsible it is going to default to the landlord.

Those areas as soon as a downturn economically lots of those tenants start defaulting and crime ramps up higher in those areas.

My current platform return the 2 months back paid rent to tenant (defaulted, and left the property without paying last month) who claimed to the bank/CC that s/he did not authorized the rent.

LLC are passthrough by default, so any gains in the LLC are just flowing back to your return.

They default again, file bankruptcy and you cannot foreclose. 3.

if they ever default on their payments, and it goes to a judge, they will say that they are an owner not a tenant. 

By default, the depreciation method for short-term rental properties is the straight-line method.