Worse yet, if the market goes south and your property devalues, are you essentially locked in?

He's asking for a discount, asked if I'm concerned about devaluing the market by offering 7 high-end lots (at two different locations) at the same time. 

Of course inflation kicks in year over year devaluing the dollar so the hope is to be at a neutral position where  the 300k is still worth the same year over year.I find developers also when they get older many retire and then passively invest with younger ones coming up on the scene.It's all how much you want to work versus tax liability and current net worth.  

The simple truth - as you pointed out - is that lowering the rent - by definition - devalues the property.

I cannot imagine hating my assets so much that I would allow a tenant to hire some idiot off the street to destroy them.And then reward the destruction of my property by devaluing it through rent reduction.

Again resale issue and you de-valued your property. 

As you know that would mean a devaluing of the property. 

I was under the impression that you could only back out related to stated contingencies, such as if an inspection found something that significantly devalued the property, etc.?

It is simply very poor business either way to mention nothing of how it devalues your property.

The reason is that more rental units devalues the building and each owned unit as a whole.