Best way to protect a rental property from a lawsuit by a tenant? 

Even if a cat is only in the house for three months, the damage may be done, so we charge the full year of increase to protect against that.

Switching strategy from fix-and-flip to BRRRR this year.

This is extremely helpful for the tax savings benefits but also because many of the assets used in a restaurant business need to be replaced much sooner than 27.5 years.Some of the major benefits of Cost Segregation are:Reduction in real estate taxesReduction in casualty and property insurance premiumsFor previously misclassified assets, you will now have the opportunity to claim any “catch up” depreciationBy accelerating depreciation, you increase your cash flowHaving additional cash allows you to invest that money back into your business, invest in other opportunities or pay down your mortgageHere’s a list of personal property that could qualify for accelerated depreciation:Drive-throughCanopies and awningsFlooringPoint of sale systemsDecorative millworkKitchen equipment hook-upsDoorsEquipment installationHVACWiringBeverage equipmentFood storage and preparation equipmentFloor coveringsSignage site improvementsInterior light fixturesFire protection equipmentThese studies should be conducted with your cost segregation specialist, CPA and financial advisor.

If you are looking to protect your cash and you believe that inflation will CONTINUE to rise.

I believe you can create an LLC here in Illinois.Also, you probably don't need an LLC period unless you have a large number of assets to protect. 

I am connected with many agent in FL, many who have made the switch from NJ to FL as well. 

BUT you probably should renew the lease and enter into an agreement with the tenants for protection. 

We switched to being treated as an S-Corp for tax purposes around 5 years ago (later than we should have) and it was a really good choice, self-employment tax was trouncing us before that.

With most utility providers you can sign a landlord agreement where when a tenant leaves and requests a shut off, it's automatically switched back into your name.