With the right tax strategy, you can maximize deductions and reduce liabilities, while having the right insurance and reserves in place will protect you from unexpected costs.By Implementing a quarterly financial review to assess performance and make adjustments to avoid cash shortfalls.

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnifeI bought over 20 houses in my lifetime and I’ve never taken more than a flashlight. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Or if they continue to be difficult to work with, start looking for a new property manager.I don't think it's necessary for you to specifically mention in your listing description that you accept section 8 tenants because it's illegal to discriminate on the basis of income in Illinois, which protects Section 8 voucher holders.

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

If not, don’t even think of this.No matter what, consult a qualified lending attorney to understand your legal options and ensure you have proper loan documents in place to protect your investment.

Protect from what?

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Or judge always protect tenant?