@Albert Johnson We evict one or two people a year in Arizona for various reasons, the most common being non-payment.

I grew up ridiculously poor, virtually everyone I knew were renters, and they all had the same things in common - a series of poor life choices and ignored opportunities that kept them renters.

I'm currently allowing tenants to use their own lawnchairs in common areas.

Is this common practice or does it at least seem possible?

There are many tax strategies.Structuring operations with a holdings and management company is a common strategy among real estate investors.

This Is a common concern for people doing a 1031 exchange.

You use the funds of others to fund the deal, you do the work with rehabbing, renting, and managing side of the deal and both you and the initial investor whom invested their funds split the profits 50/50.This is one common way it is done for fix and flip.

@Nubia SilvaFirst thing you need to look at is your condoDocuments and understand what is common area vs unitFor example a plumbing line that is a main that runs through the walls may be considered common area but if water is leaking around the drain in your unit then it could be your issue.First identify the leak which the condo association should be involved in when it’s unit to unit leak to get it reviewed to check where leak is from.

In theory you could also recover 1/6th of the CAM costs, too, but in my very limited experience with mixed use, the first floor commercial could very well push back on that, since they very well may not be utilizing almost any of the common area, depending on building layout.CAM would come from any number of places, commonly:Cleaning and utilities for any common lobby.Window cleaning for the buildingParking lot maintenanceLandscapingCommon HVAC maintenance, i.e. if a single furnace heats multiple spacesUltimately, you will want to be talking with either a commercial leasing agent or an attorney that specializes on commercial leases.One thing to note, while NNN leases are generally great, there is certainly work for you on a semi consistent basis, in creating the monthly escrow amounts and annual reconciliation.  

But there are a lot of "main GPs" that either don't know there was scrutiny or figure since there seemed to be no major action, the SEC blessed the relationship (but didn't change the rules, so who knows when it will rear its head again).Enter the "Fund of Fund" model, which is more commonly truly a feeder Fund.