Her father's recent diagnosis and the need for her to move to be closer to him could fall into this category, if it's a necessity that she do so to take care of him or if he is close to death or even if she needs to be with him now to savor more time with him.

Now, if you are talking liability where someone gets hurt on your property, well, that's where insurance comes in.Whether an LLC or personally held property encounters injury liability - insurance is a necessity.

It all comes down to basic life necessities water, food, and shelter.Also storage units turn over by the month, a lot more work on the management side to run them efficiently. 

I would assume if the homes and prices are coming from you HML, (s)he is aware of the necessity for a good spread in the numbers before (s)he lends on them.

Yes, there are many 'providers' that try to do this, which is why we are so vocal about the necessity of all investors doing thorough due diligence when choosing a partner. 

@Meleneal Cameron,I would leave the necessity of the chimney to professionals and Santa (Ho ho ho, hope i brought a smile) now what you need to get done is integrity/protection of the roof around the chimney exit point!

But it's an absolute necessity, in my opinion, for all Investors, RE or otherwise, to learn.There should be a bunch of BP podcasts, but I have not reviewed them myself.

when you invest out of state property management is a painful necessity be sure to pick them good and always have more then one and split the properties.  

Look at anything that is not an necessity to cut costs and what you can sell to improve your cash position.No legal advice given. 

You won't get a much bang for your buck on things like updating a kitchen or roof, because those are necessities.