Are they doing everything possible to expose properties to the broadest possible market?

Preferred equity, though also exposed, offers less upside compared to common equity.Sadly, even if we were in different market times (not down 30% off the highs of 2021) and your particular project was doing well.

Not aware of a client that would award a contractor operating as an individual a major project with the contractor exposed to tons of personal liability.The conflict arises because most general contractors, are used to being retained to source for both materials and labor for the client.

Asset Protection:While owning properties in your own names may have tax advantages, it does expose you to personal liability.

LLC potentially exposes to me Self-Employment Tax; an S-Corp election requires the payment of a salary; my preference is to avoid either.  

Here are our concerns;- Some of the floor joists have been exposed to excessive moisture and are rotting away. 

However, if there were a liability issue with one of the rentals, (the equity you have in) both properties would be exposed.

I tell everyone they can apply no matter what their circumstance and if they follow up with questions about why they were not selected then don't expose yourself by telling them their downfalls.Hope this helps.

. - If you're already tearing out the cabinets, maybe see how much more it would be to re-pipe the water lines or re-place exposed sewer lines.

Failure to remove such illegal provisions will result in your rental agreement being declared void and unenforceable and may even expose you to a lawsuit for double damages and attorney's fees by the tenant.