I found out from the tenant they had been without hot water for 15 days ( occurred right after my inspection), so I replaced the unit to alleviate the problem.

-Liability: $1,000,000 per occurance. 

Clays will also swellwhen they are wet and the reverse will occur.

@Jesse Phillips  College rentals are good, but they are not for the faint of heart for many reasons: turnover is high, rentals may not be well taken care of, if underage drinking or drug activities occur you may lose your license.....

There was significant damage in the unit below.I spoke to a lawyer who advised me this was an accident and I was not legally liable.

A series is terminated and its affairs shall be wound up upon the dissolution of the limited liability company under § 18-801 of this title or otherwise upon the first to occur of the following:(1) At the time specified in the limited liability company agreement;(2) Upon the happening of events specified in the limited liability company agreement;(3) Unless otherwise provided in the limited liability company agreement, upon the vote or consent of members associated with such series who own more than 2/3 of the then-current percentage or other interest in the profits of the series of the limited liability company owned by all of the members associated with such series; or(4) The termination of such series under subsection (m) of this section.Unless otherwise provided in a limited liability company agreement, a limited liability company whose original certificate of formation was filed with the Secretary of State and effective on or prior to July 31, 2015, shall continue to be governed by paragraph (k)(3) of this section as in effect on July 31, 2015 (except that "affirmative'' and "written'' shall be deleted from such paragraph (k)(3) of this section).

As far as that mark up, I don't know what percentage they use but I do know it will go up because it is based on what ever sales occurred.

It can have provisions if business is shut down for so many days etc. then landlord can take over the space and lock out.Some leases for doctors have termination provisions if they lose the ability to work with their hands because of an accident or health issue etc.

I don't know if it is required where you are or not, but here it almost always occurs.

There's a big difference for you and an investor, This will determine if someone buying today will be coming from an investor pool or an end-user Owner Occupant pool. 1) Possible scenarios not listed is you may accidently come across someone trying to place 1031 money last minute and will do the deal.2) You have two distinct groups of property, 7 of them are Class A/B+, and 9 of them are Class B-/C, maybe you sell the B-/C properties to the investor community in bulk which would be easier if you didn't have the Class A/B- properties that won't make any investor any money, just sell the higher class 5-7 properties to OO's.