Open to negotiation.While we would give serious consideration to the above arrangement, my question for today is whether or not there are other risk management techniques that we could use to protect ourselves from the mechanical risks and keep our interest in the property whole.Thanks,Chris

I actually had to get certified and do the class myself because of a unique exception with my arrangement with my PM.

This arrangement puts a huge burden on the homeowner.In states such as CT which practice judicial foreclosure, a judge oversees the entire foreclosure process.

I’m not sure our arrangement with the bank would allow that.

I think we've arranged a great deal with her... it's a 50/50 profit split where she provides the finances and we manage the entire project, from using our own guys to subbing out to other contractors if need be, to designing the final product to SELLING IT for NO COMMISSION!

All of that are possibilities, depending on how you arranged the deal.

You need to look at the HOA bylaws/operating arrangement and I expect they would be available for any listing. 

@Chris Rassam build relationships with syndicators, ask to be on their investor list to receive investment opportunities, evaluate the deals, and invest in the ones you like and with the sponsorship teams you like the most. 

Are there any verbal agreements or arrangements between the current Landlord and Tenant?

You're under no obligation to arrange your life plans around the tenant.