And it's probably the most common application of the 1031 exchange. 

Hi @Lynzie Mackey,At the end of a lease in this area, it's common to offer tenants the options to sign an annual, 6 month, or month to month lease. 6 month leases will come at a 10-25% premium, while opting for a month to month lease often comes at a 25-50% premium.

@Eric Starks - That happens to be a common question on BP.

The Premises are comprised of Tenant's dwelling unit, as well as any common areas, including, but not limited to entryways, patios, yards, community rooms, hallways, basement, laundry room, stairways, balconies, decks, and garage.D) Tenant to Promote Smoke-free Policy and to Alert Landlord of Violations.

Additionally a barn/ amenity building for common use of guests and/or rent for events.

In March of '21, the trustee transferred title of the property to all beneficiaries personally as tenants-in-common.

As you will soon find, there is no common definition of a turnkey property, and it can be very risky (and expensive) to make any assumptions.The ongoing management of the property is another area of vastly different approaches to turnkey investments.

The most common issue is the distribution of claim money.   

Any chance you can speak more to why you would avoid joint tenancy or tenancy in common? 

The plan for me is to, after I sit down and compile a list of options I think are reasonable, creative (or common), ethical, and legal, I will consult a local real estate attorney and come up with an order of operations, much like the manner in which Nathan has presented his.Other options I’ve thought of:1.