Aloha,Be sure you closely examine and understand the Reserve Funding Plan (and the operating budget) for any condos prior to purchase.

I strongly recommend that Renter's Insurance with Landlord as Additionally Insured coverage be required of the tenant; it's inexpensive and it is there should the tenant damage your property so that repairs are made prior to departure and a security deposit battle.Hope this helps - and please look into lease preparation services in your community. 

I guess the only way that you would be exposed is if you sold prior to the end of the term.But this is a solid strategy.

Seems it has to be in place prior to closing, so I considered it an entrance cost...any opinions?

Nevertheless, in the case of a CoC waterfall you CAN hit the hurdles during the hold period and collect promotes prior to the sale. 

I'm thinking write two offers, one realistic, and one where the Seller raises the rents prior to the close of escrow.

In reporting the complete disposition of a passive activity, its current-year income or loss is combined with prior-year suspended losses for the activity.

LENDER may, from time to time, extend the time for payment or accept partial payments of or additional security for balances due or to become due from the BORROWER without or prior to, such notice to the GUARANTOR.

You want to post on Craigs List every 48 hours and be sure to delete your old post prior to re-posting.

Call the TWO prior landlords.