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NSMutableString as retain/copy
@property (nonatomic, retain) NSMutableString *str1;

@property (nonatomic, retain) NSMutableString *str1;`
// or
@property (nonatomic, copy) NSMutableString *str1;`

@property (nonatomic, retain) NSMutableString *str1;`

@property (nonatomic, copy) NSMutableString *str1;`

- (void)setStr1:(NSMutableString *)arg
{
    /* locking/observing/undo/etc omitted */
    NSMutableString * copy = [arg mutableCopy];
    NSMutableString * prev = str1;
    str1 = copy;
    [prev release];
}

- (NSMutableString *)str1
{
  /* locking/observing/etc omitted */
  /* don't return something the clients thinks they may
     possibly modify, and don't return something you may
     modify behind their back
  */
    return [[str1 mutableCopy] autorelease];
  // -- or???
    return [[str1 retain] autorelease];
}

@interface MONThing : NSObject
{
@private
    NSMutableString * str1;
}

/* note: passes/returns NSString */
@property (nonatomic, copy) NSString * str1;

@end

@implementation MONThing

// no need for clients to create a mutableCopy
- (void)setStr1:(NSString *)arg
{
  /* locking/observing/undo/etc omitted */
    NSMutableString * copy = [arg mutableCopy];
    NSMutableString * prev = str1;
    str1 = copy;
    [prev release];
}

// the result is clearly defined. return a copy for
// thread-safety, expected behavior, and to minimize
// further copies when handling the result.
- (NSString *)str1
{
  /* locking/observing/etc omitted */
  /* don't return something the clients thinks they
     may possibly modify, and don't return something
     you may modify behind their back
  */
    return [[str1 copy] autorelease];
}

@end

@interface MONThing : NSObject
{
    NSString * str1;
}

@property (nonatomic, copy) NSString * str1;

@end

@implementation MONThing

@synthesize str1;

- (void)updateTimeElapsed:(NSTimeInterval)seconds
{
    NSMutableString * s = [NSMutableString stringWithFormat:@"%f seconds", seconds];
    /* ...some mutations... */
    self.str1 = s;
}

@end