For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Combined with the price I paid through the auction, they are much higher than market valueproperty 1: paid 100k, owe 170k.

I think it's less a function of people just love the burb life and more that people are priced out of the city as much so they're looking for the "affordable" option ... and that's in the suburbs.And I do think there are still some under-asking properties out there, but anything that's taken care of, that's a remodel (but not an obvious crappy flip), is going quickly now. 

The strategy shouldn't be either umbrella insurance or an LLC it should be a combination of both at the most cost-effective price. 

If you want to operate a functioning business and make money in this industry the regulations should excite you.

The trick is to combine them without the initial negative cash flow.  

I have 50+ rental houses and a handful of office buildings and MF so I'm almost where I could pull it off by myself but I still think we could have more "pull" with a larger combined portfolio and shared resources.. 

@Rich Hill, for situations such as your's, I generally offer two years of taxes and no interest on a best price offer.You can combine multiple properties in one quiet title lawsuit as long as they had the same prior owner.Thanks for buying the book!

I know that is not always the case with functionality items for homes. 

The kitchen is not about pure function any longer, it is a piece of art all on it's own.