The restrictions, requirements and timelines on these are very specific and one mistake can be very costly. 

Obviously this may vary by market but we would not accept partial payments as it does make things more challenging legally if you need to evict them.

Those that choose and can rebuild, will most likely not build back to the extent or scale due to feasibility or costs or unanticipated new zoning, infrastructure, insurance and legal variables.

Time is money and I prefer spending my time with my fam and friends instead of problem tenants and legal cases. 

Pay special attention to #4 and #5.An LLC is useful for two things: anonymity and legal protection.

- You've got to go to the property for showing- Many do not show up, so you waste your time- Then you have to have a legally compliant rental application & lease- Some approved applicants disappear the day before or day of lease signing!

Ambulance chasing attorneys know their way around and can legally navigate around Insurance Policies.

Quote from @Jim Bryant: This is why it's important to understand how the legal system works before investing in an area.

.- The TL states that those are technically the team's leads and I will owe the 20% if they convert within the year since I was given training (which I was not), lender referal (which was forced on me by the TL even though I work with my own lenders for my clients).Is the above statement true/legal/valid?

Trying to pay the least amount of taxes legally possible.