OP the good thing about BP is varying opinions and also objectives.  

Like objectively bad compared to people in other professions.

Quote from @Miguel Del Mazo: Thank you for the discussion @Corby Goade .I feel like we are biting off big pieces of a complex topic, and I think it would be helpful to focus on either the interests of the property owner or the MTR operator to simplify things,I think your greater objection to MTR arbitrage lies with why a property owner would want to willlingly enter into the agreement, so I will focus my reply on that. 

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

The main objective is regulation and taxation.

I think knowing more numbers, heloc limit, plans and objectives for future goals all should play into "what is best".

With the increased competition, it’s also crucial to prepare your listing to stand out and work to address buyer objections prior to going on market.

Once you read the explanation below, you will understand how REALLY bad things can be if you don't get the letters but go through with the purchase.First, the owner/seller should have a clause in the lease requiring tenants to sign (or object to in writing) tenant estoppel letters if presented to them.

My objective is to establish my network in the region prior to my arrival.