There are a lot of quirks and oddities in Louisiana law where the current tenant can assert that they have an implied agreement that they can pay late, stay X months without a lease, do whatever action, etc, based on what the current landlord/owner has allowed and told them in the past.

If you are unable or unwilling to do so we may elect to terminate the lease and request a return of our deposit--which we offered in a good faith agreement that we would be presented with a habitable dwelling--and our prorated rent.

The offer is still typically (100% of my transactions since August 17th last year) asking for my buyer agent commission to be paid in the agreement..

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

He signs a deed in lieu which we will record IF he does not fulfill a separate forbearance agreement outline the payments he needs to make to reinstate the note.  

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

We have a standard management agreement with a hold-harmless clause but nothing mandating arbitration. 

Documentation Needed – Lenders typically require lease agreements, property income statements, and a minimum DSCR (usually 1.1–1.25).

A few more "common sense" steps would be to mark depth, post "at your own risk" signs, put "at your own risk" in listing/guest agreements. 

It should detail any liens or subordinate agreements, including the unpaid balance.