Or as Henry Ford so boldly stated in court whence his family tried to have him declared imcompitant so they could steal his biz away from him, "If I'm so incompetent why is it I have a men on my payroll that can answer every question you can ask?"

His wife declared she will never pick up after another's dog again and they called me.  

I had forgotten what it felt like at the end of each day coming home covered in paint with tired aching muscles.

Yes, it states "if the premises are located in a condominium or cooperative development, the Lease and Tenant's rights under it including as to the common areas, are subject to all terms of the governing documents for the project, including, without limitation, any Declaration of Condominium or proprietary lease and any restrictions, rules, and regulations now existing or hereafter adopted, amended or repealed."

If the amount outstanding is greater than $30-50k, I would hire an attorney because you can garnish bank accounts, file notices and liens, depending on the credit of the tenant they will eventually settle rather than declaring bankruptcy over such a small amount. 

It just simply appears as such.USLegal.com's description: Realty trust is an arrangement for holding title to real property under which one or more persons or corporations, under a written declaration of trust, declare that they will hold any property that they acquire as trustees for the benefit of one or more undisclosed beneficiaries.

Failure to declare = FRAUD!

There are too many stories of tenants hurting themselves, and the landlord getting sued for a lot.You brought up a valid point that there's a possibility that tenants may not declare an issue to avoid having to pay for it out of pocket and could escalate into a major problem.

In my on going quest to learn about this new world of REI, I have been trying to flex my muscles in the brain to understand the ways in which everyone else is successful. 

New York Life declared the highest dividend at 6.7% and after fees, my growth came out to 4.5%.