@Raul Mena There’s really no need for an LLC at this time, but landlord insurance and/or an umbrella insurance policy may be a good idea to give you extra protection because of those other people living in your home.

After contacting the Railroad Commission, who govern use of natural gas in Texas, I was informed they don’t have guidelines.

Just curious everyones thoughts on using an umbrella policy vs an LLC especially with an expanding portfolio?

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

@Eric YuThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

Some I can think of off the top of my head would be salaried sales reps, basic record of past performance, proper offering documents, back office procedures, policies and procedures for proper vetting of investor accreditation. 

There are policy and procedures in place.

Yes, the government pays the Section 8 rent timely, but more and more tenants are having to pay a portion of their rent.

Are you US military, US civil service, government employee, does your work pay for housing?

My insurance doesn’t allow smoking and if I don’t address a problem when I discover it I could be at risk of a policy cancellation or non-coverage if the smoking were to set the building on fire.