Going forward I am trying to develop a solid Reno strategy as to what I specifically want to accomplish on MFH to keep it uniform (I understand each property can be different case by case) to some extent, but wish to see them all be in the same working order and ideally pretty identical in what they look like inside, layout being the exception.

@Dave Foster - you actually responded to my post a couple week's ago regarding a 1031 - and that's what's set this in motion.

I also had motion lights installed.

In fact I applaud you - your family has had the foresight to put into motion one of the most powerful intergenerational wealth transfer tools using the combination of 1031-trust- and probate step up basis.  

Darrick P. as many suggest get a party involved that knows what they are doing which can be a licensed originator and/or attorney.In the interim to give you a better example of a better instrument you can always review what the big boys use (Fannie Mae/Freddie Mac) here is a link, you would review the Multistate Note.http://www.freddiemac.com/uniform/doc/3200-MultistateFRNote.doc

That being said the end buyer &/or the potential buyer of my property may think twice from buying if severe drug dealing, street prostitution & gunshots are constantly in motion in those areas.

An option does not convey such an interest in some states and you can get into filing false liens, even though it is a federal issue under the Uniform Commercial Code.

scott, they sell motion activated water sprinklers.

Commercial loans are not sold to Fannie/Freddie.So, if you transfer title to a business entity, the lender wants the business to get a commercial loan and pay off the consumer loan.Now, if the purpose of the transfer was solely for lawsuit protection, then the lender can have the transfer unwound by the court on the grounds that the transfer is an attempt to shelter assets from creditors and as such is a violation of the Uniform Fraudulent Transfer Act.

This was a huge mistake.Your client should have immediately filed for eviction and given notice.This is a common tactic by tenants to gain more time.They will say they will have the rest of the money in a week for rent or they will move by a certain date etc.They rarely have the money and rarely move by the promised date.So by filing eviction at first contact you have the process in motion to get them out.If they move by that promised date great but if they try to make up some junk the marshalls will be coming out soon to throw the junk out.Your clients just need to file so the tenant knows the count down has begun.No legal advice