I am hearing of some high LTV stuff and banks allowing seller seconds and people just treating money like it comes out of a water fountain 

An LLC is established by state statute, for federal taxes you'll be treated as a disregarded entity (if you're the sole member) or if you have multiple members you'd be treated as a partnership, or you can elect S or C corp treatment. 

@Kole Kingslien - make sure you or your corporate entity are on the title, otherwise you will have no seasoning and when you go to refinance, the lender will treat it as a purchase.  

The seller's apprehension may be because he is housing more un-realated people than allowed or is treating the property as a multi-family when it is not.  

They keep it absolutely spotless and treat it like their own. 

The lease terms must be over 30 years but less than 99.A master lease has some of these aspects, but does not have the advantages of NNN leases where you can get a mortgage on it as it's treated as real estate.I know an investor who does these deals in NY who targets owners owning properties for a long time, don't want to sell due to capital gains, too old to manage the properties.

There may be projects that take longer to rehab, stabilize, or sell than you originally anticipate, so you need to know how they treat you when you are coming to the end of your loan. 

Should CAM should be treated as something outside of the normal PM fee? 

  - Treat contractors, lenders, agents, title folks, etc with respect and reward good work with referrals and continued business. 

It was a good indicator of how they treat people and provide service.