Here is a page that explains in some detail:https://www.nolo.com/legal-enc...

I had to explain to them that we only live once.

From the active investor stand point this is the manual to explain to people in your network HOW you as a borrower will protect them, structure the loan, etc. 

This article explains it in more depth: https://www.mysmartmove.com/Sm...You should require your tenant to add you to the insurance policy as "additional insured" so you are covered under their policy.

Can someone explain the reasoning behind why seasoning periods exist or specifically how it protects the investment?

Can you explain the CapEx to me?

Please Explain REITs to me in the most simple way.

I encourage you to visit pragcap.com to take a look at an alternate understanding that explains all those things that we often feel don't make sense... it took me a couple months of reading daily to finally understand it reasonably well.

Can you explained what "carried" means in the context of your asset management fee?

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.