This form really defines the obligation of the tenant quite clearly and further indemnifies the owner from liability due to the tenants failure to follow the well-defined rules. 

.- We have a massive mortgage to pay on our current primary home ($1.3M)Questions:- We haven't defined a timeline for when our agreement would stop.

There are many step by step tutorials on youtube that defines each section of the contract.

And no, you do not get to define your own version of cash flow.

So let me define this hypothetical a little further:On a multifamily sale (strictly investment property), after paying Uncle Sam depreciation recapture, and capital gains taxes, do the balance of the proceeds become income (and added to our 1040), and thus taxable at our personal rate?

I would start by defining what you want to do.

The IRS defines writeoffs/expenses for tax purposes.

It could also be a good idea - as a 1st time investor - to network with like-minded individuals that have already been doing what you're looking to do, and others that are starting just like you are.Run your numbers, define your parameters and stay disciplined with your own rules and don't break them.

And, like all QOZ thingies, you'll have to hold for 10+ years.But the win is huge. still get to take depreciation against the rental income, and since the 'no cap gains on sale' bit is actually defined as 'cost basis == sales price', you don't have to pay the depreciation recapture tax either. tax-free money. woot.

I'd define it as any tenant who has their solvency, financial strength rated by a third party (Standard, Moodys, etc.)