6 May 2024 | 11 replies
However, my property manager advised against it, as it might inconvenience the tenant further, who has already refused access to the property at this time.I'm also wondering if I should contact lawyer to understand any potential legal liabilities, particularly regarding the possibility of a lawsuit from the tenant even after they move out.Any insights or advice on how to navigate this situation would be greatly appreciated.

6 May 2024 | 5 replies
First issue is an investor always has a choice for liability protection: Insurance vs LLC setupIf you have enough insurance, you can cover any lawsuit!

6 May 2024 | 10 replies
For illustration purposes perhaps that technique would be more accepted when you are a vendor mowing a lawn or clearing out junk as a one time engagement but as a property manager there are significantly more pitfalls and potential instances of liability exposure.

5 May 2024 | 2 replies
Maybe that is one of your interview questions.If you are very top producer there can be some advantages, like employing your kids, SEPs or retirement plans and maybe if you have a big team some shield of liability if you set it up right and practice what your attorney teaches you to do to keep everything separate.

9 May 2024 | 28 replies
We do everything they ask us to because it ends up reducing your liability.

8 May 2024 | 112 replies
I truly don't believe you have any realizable liability in this.I missed the entire previous conversation, and I was wondering what licensed appraiser was previously saying that the market value of that property was at or around 80k.I looked into this briefly:1.

5 May 2024 | 4 replies
I am confused on how to think about my potential tax liability and I've had different opinions from professionals.

5 May 2024 | 10 replies
Just remember that you're robbing depreciation from future years, so your tax liability may increase later.

7 May 2024 | 56 replies
Put simply the cost seg provider as well as the CPA who signed off on the report will be liable for hefty penalties for any overstatement of depreciation that results in understatement of tax liability.

5 May 2024 | 5 replies
I would however think about the following:-Liability insurance.