Agree with the earlier response. 

Each option serves distinct purposes, and understanding their respective roles in the capital stack is crucial for effective financial structuring.Strategic Rationale for InvestmentThe rise in multifamily distress creates a ripe environment for mezzanine debt and preferred equity investors to support existing projects.

Hi Daniel  Thanks for the quick response.

(Approach - 2) - He says that if he is asked to pull permits, he is not responsible for any additional work that the inspector may throw (basically more money out of my pocket on the rehab costs).

In the contract, state that if usage exceeds 120% of the average, the guest will be responsible for the extra cost.

@Deborah Wodell I like the response that @Drago Stanimirovic provided.

Finding a solid property management team is crucial, especially when managing from out of state.Having everything you need under one roof can really make a difference.

I want to echo @Ray Hage's response.

I’m a not a butt kisser unless it’s my wife’s. their response told me exactly what I needed to hear.    

Listen up, everyone on this thread, the PM is NOT responsible for eviction costs just like they are not responsible for maintenance costs or any other costs.