Also, most Umbrella Policies only pay out if your underlying policy pays out, and the underlying policy will do everything they can to find an exclusion or that you were negligent (which you probably were) in the cause of action to get out of paying the claim.

And fined retroactivally.Additionally, if a tenant has an accident (slips/ falls/etc), or something goes hugely wrong with the dwelling (fire/electrical/etc), your insurance WILL NOT COVER the claim.

DSCR is the most common way to get around the LLC vesting and DTI requirements, although some people quit claim deed after getting a conventional financing.

Would you work with attorney on lawsuit or file everything through small claims court yourself?

He calls from a California cell phone, claims he is currently in Scottsdale AZ, and then has to look up Buckeye AZ on google maps to find out where I live.

My only recourse is to take them to small claims court - good luck w/ that!

I ran an O&E and I got:- "notice of election and demand for sale by public trustee"  this is for about 350k and I assume is the lender whom he didn't pay- "MERS assignment of deed of trust"  I'm not sure what this is but I think it's related to a quit claim deed where he added his wife to the deed thinking it would shield him from foreclosure.

Out of the tens of thousands of people who have claimed REPS and had a full time W2, only like 3 of them have successfully defended their status at the tax court.

@Jeff Roth curious as to how your clients with a W-2 job are able to claim Real Estate Professional and meet the IRS requirements?

Are there any numbers or proof to these claims?