Many Many ridiculous laws get proposed every year.  

@Michael Sargent what were the proposed terms that turned the tenant off?

You’re probably unaware but what you propose is the same as accepting a “kick back” for using your position to award a low price.  

@Heath Sizick what guidance would you give to those looking for a PM related to my proposed questions so that others reading this post can ascertain what a world class answer would sound like?

I have a tenant who has been in a property of mine for a little over a year now and they just proposed the idea to me to buy the home.

Proposed regulations may be forthcoming.

While rents are strong, the numbers simply don’t make sense at their asking prices, especially with interest rates where they are.When approaching sellers directly, I've been proposing master lease structures to meet their desired price without overpaying upfront.

You need to work inside the lending and servicing department at a bank to learn and know what really goes on and triggers the situation, and dangers you are proposing. 

I would never consider what you are proposing.

However, in the structure you propose all three properties will be liable for the acts of each property.