A physical address — a house, building, or lot — tracked independently of any one Project, then linked to whichever Projects actually happen there.
New Property — requires Description, Address, City, State, Postal Code, and Property Type. The edit form has four panels: Property (address fields plus an embedded map that renders from the address you enter), Physical Characteristics (year built, floor count, bedrooms, baths, room count, structure/lot size), Identifiers (unit/lot/section/block/parcel numbers, notes), and Type Classifications (property/architectural/structure/roof/heating/cooling/parking type, HOA fee and frequency).
The Projects tab (unlocks after the first save) is a real link/unlink tool: pick a Project from the dropdown, click Link Project. Each linked row gets its own Unlink button. This is the key difference from an Asset (see the Assets guide) — a Property is the address record with a Projects list on it, not something that belongs to a single Project or Company field.
Contacts, History, Attachments, Notes, and Custom Info all unlock alongside Projects.