But again, I don't think this distinction is large enough to skew your results when checking vacancy rates.

@Jeff Jenkins  - in French there is a distinction between education and instruction: the first you receive at home (home including your neighbourhood / society), the second being what you receive in school.In both your country and mine, the school system - post secondary included - has, more-or-less, morphed into an assembly line to turn out cogs and consumers.  

I use two very distinct colors of towels, but now have three colors. 

I distinctly remember one investment manager being very nasty to me about why any fool would invest in real estate anymore at that point.  

That said, I don't see the designation distinction to be all that important.

When people have mentioned that in this thread they failed to make the distinction that the appraisal only "sticks" if the new buyer is getting an FHA loan also. 

A lease Option is 2 very distinct contracts...the lease and the option.  

That makes a lot of sense for the different types of distinctions and figuring out how to talk to each. 

Second Ward has a really distinct character.

FHA doesnt have different LTV's for units (key distinct advantage).