@Rick Pozos is correct.

Are you protected if there is a correction in the market?  

If I understand correctly, this is state by state and isnt always allowed.

And done in strategic waves.

Many of the best longer term markets are in a correction now (TX/FL).There is no particular formula, but the closest proxy would be population growth and 10Yr historical price increase which aggregates many factors together.

Most investors opt for the skeleton versions that truly miss the mark and lead to convoluted amended and restated agreements that cost far more to correct than simply paying for the agreements to be drafted by a professional at the start. 

No right or wrong answer IF you buy correctly.

I tried correcting the mispellings in the title but it created a whole new post!

You are correct, I worded this to generate responses because I wanted to know people’s views.

However sometimes these information might not be correct and you should really do your DD on this.