An in ground oil tank for instance can be a considerable liability. 

But $5000 just to determine your tax liability and run scenarios on outcomes of a 1031 exchange and tell you if you qualify for a 121 exemption??? 

I am looking for some help getting a liability agreement set up for my new short term rental.

Landlords worry that the security deposits allowed under the bill will not be sufficient to cover these damages.The presence of pets can lead to higher maintenance costs due to wear and tear, noise complaints, and the need for more frequent and thorough cleaning.Financial Implications: The bill prohibits landlords from charging additional rent or security deposits specifically for pets, which landlords argue is necessary to offset the increased risk and maintenance costs associated with allowing pets.Landlords may need to increase their liability insurance coverage to protect against potential issues arising from having pets on the property, which could lead to higher insurance premiums.Key Provisions of AB 2216No Blanket Pet Bans: Landlords can’t have blanket bans on common household pets without valid reasons.No Extra Charges: Landlords can’t charge extra rent or security deposits for pets.Documentation Requirement: Landlords must provide written documentation if they restrict pets for health or safety reasons.Pet Liability Insurance: The bill might require tenants with pets to have pet liability insurance.As always, I’m here to discuss how this might impact us as property managers and landlords.

@Blaise Peterson from a PMC point of view:If the property is vacant, we'd just terminate the contract, because there's nothing really to manage and we don't just want to be used cut the grass.If tenant-occupied, there's a host of liability issues for a PMC if owner hires another agent to list for sale:1) Who knows what transgressions the Owner's agent will cause with the tenant while showing it, possibly resulting in the owner and the PMC getting sued.

If you will be doing a new lease, your attorney may suggest changes to better address the liabilities of the new tenant.  

For probably 90% of the people it does not provide anonymity, it doesn't protect you from liability, and it doesn't save you any taxes. 

(Yes, he's been dealing with an attorney regarding the situation)5) Have a good CPA who knows the ins / outs of real estate investing so you can lower your tax liability. 6) A good tenant is the most valuable thing IMO - take care of them. 

He was not approvedAlso make sure they get personnel property and liability insurance with you and them named as the insured.Look at everything!

I feel bot of those are very affordable, considering the risk and liability if you mess something up!