There's a ton of articles out there about additional lease addendum's you need to have which are not covered in a standard lease. 

Hey all, I am considering a 4000 sqft 2 family house with a full basement that I am looking to turn into an additional legal unit.

On most of our rehabs, we add SQFT with an addition or by closing in a garage or carport (perfect example here: https://www.biggerpockets.com/forums/311/topics/55...).

Honestly, it's been a great property to own so far (I know the time is limited)  and the current tenants, on top of paying their own utilities, handle a lot of their own maintenance, too.As an investor I'm in full acquisition mode and looking to acquire additional properties, deal permitting, and scale up swiftly. 

These are professionals with additional training and a stricter code of ethics.

@Jared F.You should consult an attorney when it comes to asset protection.A couple questions you want to ask the syndicator is how the entity is structured.If the entity is structured as an LP or an LLC - you are likely a non-managing member or a limited partner.So the question you would then ask the attorney is if you have additional protection investing as a limited partner/non-managing member in your individual names or as an LLC.I have seen individuals invest hundreds of thousands of dollars in syndicated deals.

I would say definatly NO to a rent reduction and see what they do.

I am looking to up my portfolio in the Bristol area by purchasing additional multis (preferably 3+ units).

@Jordan LeithartIf you want to pm me I can provide you some additional info. 

My sense is there's a reason for that.I'd be a bit concerned that some type of failure could result in water damage, in addition to the risks that you mentioned.