And what separates it from a normal Condominium?

Private equity is a service provider (sort of like a "shoe shine". or a "car wash", or "barber", just on a different scale.)

Follow up questions that could demonstrate your intent would be things like "What is your normal business practice?" 

I once asked a TK operator why he left out all the normal expenses on his sheet of spread.   

BP Family, I'm currently evaluating a 3b/2ba fix/flip where we would be converting a 400 sqft 2 car attached garage into a master with bath / walk in closet.

Property management firms will have their lawyers write up their lease template, but they also deal with thousands of tenants over the years.Assuming this is a normal rental, you should be covered by going to an online legal store. 

The county/city will normally only do a reassessment when the property is sold, or every 'x' number of years

In my area (don't know if this is state by state), commercial is normally 45 days and SF 15 days. 

The particular property we're looking at, thankfully has a driveway & a 1 car garage and is not on a major thoroughfare.Thanks again for wishing us luck and we'd be glad to DM you the details should we decide to pass on the property! 

What if you are in a car accident and get a judgement for a million against you--they could seize your father's house as it is NOT your primary house and he would have nothing.