**Parties Involved:** - **Borrower (Trustor):** This is the property owner who is borrowing money to purchase or refinance a property

They are in violation of copyright law and shouldn't do it.This is straight from the Chicago Association of REALTORS website:A reminder that the Chicago Residential Lease, and all of CAR’s forms and contracts, are an exclusive member benefit for use only by Chicago Association of REALTORS® members or those who are party to a transaction facilitated by a Chicago Association of REALTORS® member.

If the property is depreciable in the hands of the related acquirer, the gain on the deemed disposition between the related parties is ordinary.   

On the lending side there would be no issue, it's a matter of getting that contract written up and agreed upon by all parties.

A tenancy-in-common (TIC) is when multiple parties collectively own a piece of property and have assigned use of different units within the property.

But assuming I feel extremely confident in the proforma numbers, does the structure seem fair for the risk and requirements from each party?

Funny part is they did this during covid and there's a law stating 4 to 6 years statue of limitations but the judge in Harris County has ruled in favor of Yellowfin.

The zoning of the property is RM-1, so that part is correct.

If the properties are managed by a third party management company, 90% of the income / expenses should be summarized by the PM Company.You should be able to get a year to date statement providing you a summary. 

If your city does not have enough deal flow then I would expand.If you can find good third party management then I would consider diversifying.