Being proactive ensures you’re always a step ahead, minimizing risks and keeping your business running smoothly.Example: Imagine you implement an outdated tenant screening policy that inadvertently violates a new anti-discrimination law.

3) Average income was up 4.5% in 2024.

Almost all mortgage loans these days have Due on Sale clauses, so it comes down to A) whether they find out (usually from changes in the insurance policy), and B) whether they choose to call the loan.

Until you have $1 million or more in equity and really understand how to use an LLC, I recommend you just buy an umbrella insurance policy for $1 million.

I know that Airbnb keeps getting greedier and greedier, but this is in violation of our cancellation policy.  

Tenants will set up insurance, show you proof, then cancel their policy right after moving in.

.- verify the policy is current. 2.

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

No guarantee this will continue but I see elected officials making policy mistakes that will lead to less development and that makes me believe constrained supply will continue to drive above average appreciation.John

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.