In most cases where the unit counts are this large, these units are owned as part of a syndication or fund, meaning they retained ownership/control of “a percentage of 1,200 units” (and in many cases, I think these claims should be clarified, but I'll save that for another day...). 

Almost have to just start muscling through the first deal to learn.

The other thing you should consider is your MA homestead exemption is only for a primary residence, not sure if you can retain that for part time rental, as an LLC I am pretty sure you can't. 

I think what you are talking about is retained earnings for your business.  

I’m considering purchasing a duplex but noticed some un-retained land next to the driveway that looks suspicious.

It would certainly provide additional options while retaining the SFR asset.

I am in New Jersey- the lawyer is asking $750 retainer and says the minimum we pay him will be $1,500. 

I currently have counsel retained representing my LLC, but am experiencing a dispute with the other member of the LLC(2 members only). 

I believe collectively we should retain counsel and organize PR to show why we aren't to blame for affordable housing issues. 

Now you can flex your muscles at your hubby and I bet your tenant is a bit embarrassed.