Most better policieswill not have a deductible for either the Liability or Medical payments coverage.

•Make sure they’ve got general liability and workers’ comp.

Sellers should want a sentence in which the tenant confirms their security deposit will be transferred to the buyer, and the tenant will release the seller from liability for any deposit refund after the sale.

Liability Protection: Transferring to an LLC provides asset protection but may not always be worth the hassle or cost.Next Steps: Review your loan agreements, consult your lender, and get advice from a real estate attorney and tax pro to ensure everything’s compliant and beneficial.

The policy was $2200/year ($1.1M Bldg coverage and $1M Business liability coverage in this apartment LLC) and I haven't had a single claim in my past 5 year history.

Crossing the lines may not provide proper liability protection.Personally, I just kept my SF rentals in my name and got excellent insurance coverage, $500K per property plus a $2M umbrella.

Consult your local CPA to calculate accurately and minimize your tax liability.

You need to have the income and tax liability to support the depreciation.

LLC) will impact liability, tax deductions, and reporting requirements.Rental income is taxed as passive income, and losses—such as depreciation and property expenses—can offset rental income but may be limited if your income exceeds certain thresholds.

Geesh.The Broker also who wrote those contracts and advised their clients to make these deposits most certainly has some liability here.