@Vivek Shah Hello Vivek, many of our clients use a land trust to transfer their properties into an LLC, which also provides the additional protection of anonymity. 

So, I guess maybe the board knew there was equity, so they actually bid to protect their debt from being wiped out if the bank took it back.  

Of course if you own those properties under one LLC you can totally do that and you are protected but it is the best to monitor on each property's performance as an investor and most of the softwares are not built that way. 

I will say however that most agents want to use that clause to protect themselves from you selling as soon as the contract is up.

As with 1031's they offer pros and cons. i agree with @Alina Trigub the first step is to define your main goal - asset protection, growth, tax shelter, all the above.

Not sure what type of contract was accepted for all 3 properties but like I mentioned before all the contracts I have used or seen protects sellers from this type of situation.

I would be more willing to work with you even if it costs us more because of your knowledge and expertise.

Protect your personal assets.

As well as added a shed to protect water heater instead of leaving water heaters in master closet.

If the first applicant is a member of a protected class, they can claim you discriminated against them based on their protected class, not their credit report or income or Landlord reference.