In true syndications, a sponsor shares all financials and will do a capital call if market conditions dictate more capital is needed.

In PMC the lender dictates whatever terms he/she is wanting. 

@Celine Li Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

That’s a problem if trying to enforce a security position as a lender or Noteholder.You may gain control but economics will dictate structuring a deal to pay the problem spouse something as a “lovely parting gift.” 

It is dictated by business.

Its up to you as the builder to negotiate a fee that your happy to pay.. and Frankly market conditions dictate commission in hot markets one might be able to just stick a sign in the yard and do yourself.. still pretty tough or just put them on MLS and negotiate the buyers agents commish like the new rules dictate..

------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The loan agreement and covenants dictate the rules of the contractual agreement.

Do nothing...the tenant isn't renting that area and has no right to dictate how you use it as long as it poses no security/safety risk to them. 

Every property we onboard the owner has complete control over their furnishing budget; we have never and will never dictate this.