A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Your proactive approach—especially the hurricane-proof renovations—really positions you well in terms of asset protection and long-term value.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Protect from what?

So, I would be very conservative (for your standpoint) on the researched estimate.I would do what I suggested above, then if the tenant takes you to small claims court you explain to the judge the legislative time restrictions you were under in order to come up with an accurate repair expense.This is yet another example of how "tenant protection" laws, in practice, end up hurting the tenant in the end.

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

With the right tax strategy, you can maximize deductions and reduce liabilities, while having the right insurance and reserves in place will protect you from unexpected costs.By Implementing a quarterly financial review to assess performance and make adjustments to avoid cash shortfalls.

If you plan to invest in multiple states or require advanced asset protection, consult a CPA or attorney to explore options like a holding company structure.

Or judge always protect tenant?