To avoid that, set a firm, realistic budget from the beginning and make sure you stick to it.

I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes. 

He's an investor himself and recently left his role as partner at the largest firm in the area to start his own company.

Any VA service firms ?

We have an insurance policy on the rental house (through State Farm), that includes a personal liability section, which is essentially equal to our current net worth.Given that a tenant could sue for more than this if an accident occurred, we are thinking about adding either LLC or an umbrella policy (or both) as extra protection.Any advice on which way to go, and if LLC, any recommendations for a law firm or company the Indianapolis area?

I'll send you a DM on a recommendation for a law firm a lot of our clients use.

Start their own consultancy (either recruiting agency since they are the top recruiter like I did, or if they were pentesting for different clients like banks, fortune 500, etc, they start their own pentesting consultancy/firm). 

At our firm (tax advisory) we are offering a service to help clients with this and we expect many tax/cpa/law firms will as well. 

There is risk in both options & as an investor you need to weigh those risks & stand firm on whatever you decide. 

Will look to refi next year and get all our cash back (have 1 year left on generous seller financing)Failure: still battling a tenant eviction industrial property, costing me money (I can afford) but time and my energy (not a great use)A ha moment: just to focus on higher equity slugs into fewer deals, the law firm is #1 for me2025 goal: complete exit, closing Jan 9, keep making offers, grow the law firm with less billables