I distinctly remember watching a youtube video over a year ago where crunching the numbers finally "clicked."

As a consumer, it is important to make a huge distinction and it is why it is so important to really know who you are buying from when you buy passive investments far away from where you live - turnkey or not.  

This is why we have, int he industry, a distinct difference in Property Managers vs Leasing Agents. 2 Different "crews" to do 2 very different job's, that those 2 job's/crews are inter-related for the overall success of the "flight". 

A properly wired sub-panel has ground and neutral wiring that remains separate; this is a key distinction from a main panel that ties directly to the service line from the electric company, where the bus bars are used interchangeably for ground and neutral. 

Be careful with that distinction as paying 1099s to persons who should be W2 employees can trigge back payroll taxes owed to the governments and the employee.

Having said that, I don't believe this distinction makes the other comments you made incorrect for the case discussed here.

We have also seen the same in venting when the a/c is run very cold & you have serious condensation (from in-house high ambient humidity) laying in the venting laterals & it also has a distinctive odor.

This distinction becomes important in foreclosure since the borrower may remain personally liable for a recourse debt on a foreclosed property.

@Marc C.Not an attorney, but I think you are safe if you have 2 distinct agreements.

Many people even experienced service providers like lenders do not understand the difference, they often hear "Modular" and think Manufactured, you need to know the distinction and educate them.