You're going to want to find a local attorney to put together or provide the paperwork to make it legally binding if they do. 

@Joey BudkaWell there are huge companies with programs UNLOCK, HOMETAP, POINTThey have been doing these equity sharing deals at least ~~8 yrs now

Was not even legally subdivided yet. 

I can tell you that the borrower has no legal right to reinstate the loan at the courthouse steps.

With their new lower management fee, it was worth us to go through them, and they will provide legal assistance if theCity starts causing headaches. 

You can also get a home built that has a legal suite or as an up-down duplex.

This means that an owner cannot legally operate a short-term (less than 30 days) vacation rental in the county, except for one zoned residential, multiple-family on the barrier islands.City of SarasotaThe city of Sarasota does permit short-term vacation rentals with a minimum lease duration of one week.

I suspect this has a lot to do with the particular PM company. 

Never the less, if I was adding an ADU, I would add it with permits etc. to have a legal unit.  

I would think not... but you could possibly set the master as a PMC so that it doesn't actually "own" the other companies but manages the properties for the LLC's.