You can "buy" the property from the QI for the $450K (the amount you lent to them). 

Does anyone have a personal experience where they were sued for such an amount that umbrella insurance kicked in?

Hello,I am wondering if anyone knows the answer to this, I am a Canadian citizen with many single family houses that I own in my Florida LLP, I am currently using the structure of paying taxes from the the profits from the LLP flow thru into my personal name, paying taxes in Florida and then having to pay the difference in taxes in Canada ( minus the amount I paid in Florida as a foreign tax credit).  

With that type of income you can buy rentals with cash in a short amount of time anyways.

I have a separate account for my real estate properties and keep a base amount there.

The good thing about bonus depreciation is that you can take the amount eligible for bonus depreciation in that given year.For example - if you place a $50,000 item under 5 Years MACRS on December 31st, it would be eligible for bonus depreciation which as of right is now 60%.

Your minimum down payment amount for a 2-4 unit will be about the same as an often required 20-25% down payment on a co-op.

You could buy the meter, have a plumber install, you connect to computer, charge the exact amount of water usage. 

I will just have my bookkeeper bill a flat amount monthly from Jan 1st on. 

People don't realize the amount of wealth that is flowing to Miami.