During the Bubble in the late 90s (funny one now has to specify) some commercial landlords used to get paid partially in warrants, which are basically the corporate equivalent of stock options. It's not so common now, though, and it wouldn't be a good plan for a very small startup anyway, because landlords would have no idea how to value you.

I've heard many people say this happened, but very few examples (besides Paypal). Are there any other examples?

I think most of the time the landlords lost. That's why they don't do it anymore.

It works better the other way around: buy something and rent it out to get free equity.

if the arrangement works for all parties involved, why not? get it in contract form.

For fuck's sake, equity is not cash, stop using and thinking about it like cash.

And what kind of landlord would even go for this? Mortgages can't be paid in equity, either.

If someone is willing to buy your equity it's as good as cash.

You do need a buyer for it though...

> If someone is willing to buy your equity it's as good as cash.

Which means it isn't cash.