I realize umbrella wouldn't cover property damage.  

Oh got it, thanks for the explanation.I am not an accountant or attorney but from a  law point of view I believe that as long as the equity is bound in the property it is not realized capital gains so it won’t be taxed.You could structure it as a deferred payment due at some point in the future making it taxable at that point.

I considered Texas and was going to submit an offer but then we did more analyzing and realized it is tough.

I realize the business would own it, not me, but still me(smiley face emoji).

I've seen some logical points made that under estimating Cap Ex may not be realized until many years later when a few larger than expected expenses eat up years of "cash flow".

But I got better educated for that money, not to mention humbled.I never partnered with anyone again, and realized that my lane was LTR landlording, whether personally or through PMs (mostly PMs now.)

Me: "You do realize it's over 100* today right?"

Let's say he was enrolled in college or just graduated - Nathan not sure if you know this but you do realize college is credit for employment and covers the gap.

You do realize the person you're being condescending to about lawyers, is a real estate lawyer. 

i really want to leave this duplex in a solid position when i move out and rent it. i realize that things WIILL break but i just want to make sure the big ticket items are taken care of.