Account Closed  NP  I do business in 12 states but only file tax's in 9 I think. the others have no state income tax so no filing necessary... you get a credit for whatever you pay in your home state so states with income tax the tax is either nill or negligible at best.The issue to watch out for with tax's is property tax's.in Memphis for instance you can be double tax'd  city tax and county tax... buy in the county and your tax's are much less than if you buy in Memphis proper.And of course we all know about Texas sky high property tax's its one you really need to watch other wise your returns will really suffer.

I am glad it is not an appraiser error or negligence.

I assume the costs to evict, taxes, vacancy holding costs are negligible?

If you want to sleep at night, don't be negligent and carry insurance.

like gross negligence etc.the business entity you choose depends on different factors.

The apartment wasn't flooded due to negligence.

If you personally are found negligent, they can go after your ownership in ANY of your LLCs.

If you're starting out you may not need a business entity, load up on insurance and manage your property well so that you aren't negligent in the first place.Do some more reading here on business structures and I'd suggest you speak to an attorney to put your entity together and a tax professional before you do anything. :)

My guess is somewhere in the sign-up it says they aren't liable for 'damage', and the only way you get a check is if this was negligence which is likely hard to prove.

The tax impact is generally negligible, and will represent a dent in the increase in return that leverage produces.