4- Who maintains control of items purchased for the above work, the Management company/Landlord or the Make Ready/Rehab contractor?

We are in 2nd position on the home.

Honestly i have no clue which angle he was ultimately trying to go at, but it sounded like he works with a lot of investors who own real estate that produce more deductions than they have in income to claim on taxes, the point he kept repeating was that you can calculate how much income on a property could maximize the usage of all your deductions, then either pay down to this point and maintain it, or refinance the property in a shorter mortgage to gain income and bring the level back up to this level every so many year or after paying it off. 

You have to disclose that you’re an agent and it can be costly to maintain if you’re not going to use it but if you’re already interested in real estate and looking for side work I’d look into that.

People maintain and respect that which they have an investment in.

I only have experience with 1st position loans where the borrower files BK 13 so I don't know much about 2nds in BKs.

IT will only complicate your access to cash and leverage without having any positive benefits.

I know accountants who are comfortable with it as long as meticulous records are kept and arms length is maintained. 

I actually use the TREC contract as a positive to get people to sign without delay.

When down cycle happens lenders tend to go in a defensive position when they see a declining economy.