@Anthony Lee  thanks for that distinction.  

There is a great value to the FD and I believe the distinction between a conveyance of full interest (land included) is unsupported given the fact that people can donate property while retaining a life estate - but, the law appears settled.

So now you have three syndicated deals, one each per market, in three distant and distinct markets, right? 

This is an important distinction in places like Breckenridge/Summit County, where the city of Breck has essentially banned new vacation rentals, but Summit County allows them.Good luck!

The upside in these projects is increased value in the eyes of retail buyers OR investors as it relates to cash flowAppreciation can take many forms (long run, forced via improvements, forced via improved management, etc.) and is a valid and viable business model that should be maintained as a separate and distinct business from owning and operating rentals.

A strong will, a settled purpose, an invincible determination, can accomplish almost anything; and here lies the distinction between those who become great and those who remain little." ~ Thomas Fuller

Done with a sense of grace.The only distinction in lending is to SEC and banking laws exempting private transactions, private lenders known or related.

In most states, there is a very distinct difference between the "Delinquent Tax Roll" and the "Tax Sale List" - which I think @Jeff Zamora was alluding to above.Delinquent Tax Roll: This list contains all the properties in a given county that have missed at least one tax payment (as per @Sean OToole's outline), but these properties have not yet been seized by the county in tax foreclosure (i.e. - in California, I believe property taxes can go delinquent for up to 5 years before they're taken by the county). 

I’m a bit concerned about the saturation of the market as far as tourist rentals go as I’ve read that many Turkish and Russian investors have been buying already.

You CAN refuse a therapy pet on the basis of lack of paperwork if its' purpose is "emotional support" or other not easily defined purpose.There is also a distinction now between "service animals" and "therapy animals" (I can't remember exactly what, but the laws are a little more forgiving for us for emotional support animals vs. true service animals) Yes, "no pets" is irrelevant although if you can make a case that an existing tenant has such allergies to that animal, that their life would be affected, it's possible to make a case.