Chase,A Limited Partnership or LLC is created for the sole purpose of purchasing the property.The Limited Partners (LPs) are the passive investors and the General Partner (GP) is the person/company or group of people/companies putting the deal together. 

Is waiving rent  the same as a loss? 

I have rentals class C to C+ rentals, holding out for a 650 fico would often mean more vacancy and lower rent, so I elect to be more flexible, and probably take on greater loss risks than you do.

I believe in Baltimore County, limit is two. 

Will a cash out refi count towards the limit of FHA loans I can get?.

What happens to my earnest money and how long will it be stuck if my options to close on property are limited?

I created my own Numbers (mac version of Excel) spreadsheet to calculate Cap rates and ROI  since BP's calculators are limited in the number of inquiries you can run without having to pay.

Finding signifigant amount of class A space is probably going to limit yourself to SW where they just built a bunch of new buildings, or in Montgomery County where there is a ton of open office space.

I've sent him a lease violation warning letter, letting him know, to keep it quieter at night and letting him know that the basements are off limits.

If not then you include language to cover potential losses. 60 days notice (also usually in codes) one months rent penalty etc.There are a few major problems with lease break language.