The advantage of Reg D over relying on the general exemption is (1) if you comply the SEC can’t come back and say you should have registered and (2) if your sued by a disgruntled investor you have a definitive defense, which means an attorney is unlikely to take an investors case on a contingency basis - unless fraud was committed.  

This new twist of claiming you owe them money is a typical scam tactic to put you on the defensive so you won't contact them about the money they actually owe you. 

@Wiley Hood DIY cost segregation tools like KBKG can be cost-effective for simple properties, but they lack the precision and audit defense of professional studies.

I've also heard it can be a good thing to have some debt against a property because if any issues arise legally, the bank will be the first line of defense. 

It could vary of course depending on the defenses of the tenant and if the court is presently backlogged.

Sure, but the reclamation and redevelopment as defensible condos and apartments -- complete with less urban sprawl -- can occur faster than you think.

Contractually, I'm sure I'll be on the hook for something based on their PM favored literature, but can I contest that they have done absolutely nothing for me, including not paying me as my defense?

Rules and restrictions, and traps that don't apply to any other kind of businesses, only the rental market.I think this puts the landlord on the defense.

They lady I was speaking to grew very defensive and told me that they had emailed to me confirmation for this web-site.

This is like having a defense attorney.