As long as you haven’t switched industries or has a wild salary swing, the 2-year thing shouldn’t be an issue.

That is wildly inaccurate.

It would be political suicide to campaign for such a policy.But, all it takes is some lady with a power trip on your local HOA board to change things for the entire community.

It's wildly incorrect and will set taxpayers up to make serious mistakes who rely on it.An LLC is like a chameleon in that it can be taxed as a Disregarded Entity (aka a Sole Proprietorship/Branch), a Partnership, an S Corp, or a C Corp depending on the ownership makeup and elections made.Only knowing that you have an LLC without knowing further details doesn't help because advice can't be dialed in.The default federal tax classification of a single-member LLC (SMLLC) owned by an individual is a Disregarded Entity (DRE). 

But the split is certainly important, and for some reason the GP Im doing a favor in intro’ing to serious friggin investors, is proposing a wild change to what seems like a pretty straight forward part of the deal (the waterfall)

The reason I called Albany was because I sent a FOIL Request and the guide me to Office of Counsel- Records Access Office but I'm not sure if this department hold all NYC Delinquent Tax....I'm struggle because I also when to Department of Finance Queens Business Center and the lady told me that list they don't provide.... 

A lady in another state owns a non-performing note in my city/state.

That's because...At 1.3 months supply, there is still a wild shortage of homes for sale. 

As far as reno budget--that varies wildly depending on the property: I've done them for $8 psf to $70psf. 

Has there been no case that parses the difference, if any, between banning pits and banning wild or farm animals?