WOW to earn a post from Jay Hiniricks and Scott Meyers each with priceless comments is a privilege.  

It doesn't mean anything.You also want to have long-term financing and a long-term exit strategy so that you can hold through the downturn without being forced to realize any losses.If you invest only for appreciation, by buying cash-flow negative properties in the hopes that they are going to rise over time, then when the downturn comes, you are holding onto a property that is worth less than you paid AND you are paying out of pocket for the privilege.  

You spend one week every month of your life working just to pay for the privilege of filling your truck with gas, paying for maintenance, and having it lose value every day.Are you also saving 25% of your income every month for investing?  

Never allow any tenant special outside privileges in a multi unit property.

In other words, how do I gain the privilege of having the chance to compete? 

hmm; as I feared, you have been told only the tip of the iceberg and don't have a complete background on legal entities, and that's not your fault :sigh:Creating a legal entity of any kind has several privileges and requirements.I created an outline here, but the direct answer is:A registered agent is a 3rd party to whom a legal summons is given when your legal entity needs to be served in a legal suit. 

For me, spending 70K on a guru seminar, or paying 12K for coaching, or paying 25K for the privilege of being in a JV will never be worth it for me. 

@Zach Evanish,I had the privilege of speaking at IMN (East) this week and got the pleasure of spending an hour with Andy Boyum and Tom Schneider of roofstock during the conference.  

The way I am reading what you wrote is basically that you have no way to terminate your lease obligations early, but if you want to move out early, you have the privilege of paying an extra $1200 AND still being liable for the lease until it end or a new tenant moves in.  

These privileges were never written in the lease, could you revert those verbal decision after you notice is only causing conflict & money?