They are whatever we put in the contract, then need to be deposited in a certain time frame as dictated by law, and that changed with who holds the EMD and what state we are in. 

Granted, the hustle can't be as perfect with houses as it is cars, because the design of the house is not dictated by the home warranty people, as the design of the car is dictated by the same people who sell you manufacturer's service, but that's how it works.

Your local laws will dictate what is reasonable. 

@Tonna LeeTenants do not get to dictate how you run your business.

This dictates your filing obligations.

I'm not sure where you are located which could dictate the answer here but in my business we don't allow any subletting.

We were going to do a 1031 exchange with a property we sold,  however we had trouble identifying replacement properties within the time frame dictated by the 1031 rules. 

Or are you saying it is not this properties, but rather the market comparable properties NOI that dictates the CAP rate?

So it's not the actions of the other party's lawyer, but your own, that will dictate how good the entity protection is.

Don't be accessible when the tenants dictate.