Legal Entity Considerations: Should I hold my rental properties in an LLC or trust for liability and tax benefits, or does it not make a difference for me?

The LLC can sign an agreement with the debtor (mortgagor, that’s YOU) accepting liability for the debt, but that’s only between the two parties involved in the agreement.  

If that does not go in my favor I may need to seek legal counsel.

That is why it is hard to get regular real estate loans on assets valued so low, the cost of the refinance makes it so you are paying higher than they can legally charge you percentage wise.

In this case, she had no right to the common area and no legal standing for a lawsuit.

Due to the delays in the program’s expiration date as a result of the legal challenges, over 75,000 federal workers were able to accept the offer."  

No legal advice here, other than get good legal counsel on those two matters. 

I frequently see where one party is awarded the property and debt and is mandated to sell or refinance it within a certain timeframe to have the other party removed from the note/mortgage.

U cant have 1 million platted legal lots of record of which maybe half are built on.. and expect linear rise in values.. 

You are correct; it would be awkward having two different parties staying on the property.