Even if someone is MTM I still advise issuing a unilateral amendment to alter an illegal clause ASAP.  

We're fixing it up to the level we are okay with living in and betting that translates to top of the line rents/renters.

Some english real estates terms aren't even translated.

I recommend starting with understanding and breaking down the numbers....what your model/strategy will be, what you can qualify for, and how that all translates to the current marketplace. 

I have worked in restaurants as a server for years and love the hospitality industry and would love to translate that into Airbnb.

The fact only a partial interest was being pledged should have been clear in the deed of trust which should have translated into the deed you received explicitly saying it was only for a partial interest.

This will alter your strategy and how much equity over the years you can pull out of the properties so it needs to be tailored to the market that you are targeting.

Alterations and Improvements.Tenant, at Tenant’s expense, shall have the right following Landlord’s consent to remodel, redecorate, and make additions, improvements and replacements of and to all or any part of the Leased Premises from time to time as Tenant may deem desirable, provided the same are made in a workmanlike manner and utilizing good quality materials.

Breaks neck and has life altering paralysis.

Now those % don't necessarily translate exactly over.