As far as today’s syndications - The premise of having to accept lower cap rates because that’s what the market dictates is not part of my investment strategy, but every one is different.

But I am also in one of the most competitive markets for investors in the country so, sellers dictate , all the best 

Luck ONLY dictates our starting line and what the hurdles will look like, EVERYONE has hurdles, nobody get's a clear path it's just the excuses people feed themselves to do nothing that breeds to wine of "oh well so & so doesn't have to deal with....." yeah well so-and-so doesn't have some of your advantages either. 

In my state, the tenant's cannot dictate that the contractors cannot come in to make a repair.

I will tell you, do what you want and don't let others dictate what success means for you.  

Because bonds dictate interest rates, we can also say CPI has caused just as much volatility in the mortgage world.

While many might scoff at the idea that someone can arbitrarily dictate that all rental prices will follow the CPI-U, you have boldly chosen to assert yourself and demand that the world conform to your ideas.

It's going on 3 decades they have been begging to build more production plants, nope, politicians dictate differently. 

If the turnkey does not sign this, and you have some contingency in place in the contract, then I think the EM just sits in escrow, and a few years later the title company just gives you the money back. without release from buyer and seller the EM at some point gets interpleaded to the court and ends up in the states excess proceeds division.. it is NOT just given back.. but the bigger question is who did he make the EM check out to .. was it the turnkey provider themselves if so good luck getting that back .. if its escrow then the above will dictate.  

Between them and Rocket those are two lenders that I just wont sell my product if the buyers are using them pain in the rear and not worth it.But of course simple logic dictates a slow down in Real Estate purchases and most likely rampant appreciation.