@Dan Heuschele, sounds like you got your answer, but over 5 years of actively working with over 4,000 LPs, my experience aligns with Brian's.I am sure, as of today, the number of LPs that want out of deals going south is probably much higher than leading into this correction, but unfortunately, if you want out after there is already a scent of blood, the chances of finding a willing buyer at anything more than pennies on the dollar is probably slim to none.That being said, I know Cadre runs their own secondaries platform.  

Jason Hartman has pointed out that interest rates were so low before the recent increases, that buying was like going back in time and getting a mortgage in ~2011-2012.so... it still feels like the fragility of the current group of people who already own is a bit overstated.this is the distinction between the market being unaffordable (it's very unaffordable) and unsustainable (maybe it's unsustainable?)

I'm looking for feedback on what distinctions need to be in a lease like this.

Might you consider bifurcating this forum into distinct forums, one for Tax Liens and the other for Mortgage Notes? 

House Hacking can be broken down into three distinct phases: when buying, while living there, and after moving out.

I use separate accounts for rent collection and security deposits (distinct from my personal checking&savings accounts), and they don't have to be under an LLC unless the property is operated under one. 

There is a distinct advantage of having local management (whether you or a company is managing).

Frankly, I would be surprised if a real estate agency would want to hold rent properties in the same entity as their brokerage business.I couldn't say whether the properties are owned by the same legal entity, but the agencies have said point blank that they own properties in the same city as their agency business (distinct from the same agencies' property management businesses which they also do).

Put scented driersheets in all compartments and rooms.

That’s an important distinction to make, as subject to financing is a niche strategy — there are a time and a place to use it.