If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

I don't know, it sounds kind of weird but my friend is kind of freaking out about potential liability since the lien was literally placed on the house essentially hours before closing. she needs to contact whoever wrote the title insurance.. the attorney is just an agent for the insurance carrier.. that should fast track.. this happens I have had it happen to me by crooks/criminals literally who put a mortgage on a property 15 minutes before my title company recorded my mortgage so when my title policy came out i was in second position not first position as my escrow instructions stated I needed to be .. 

Otherwise, it’s treated as a partnership requiring Form 1065.Get an EIN (Employer Identification Number) from the IRS (free) for tax and banking purposes.Separate personal and business finances by opening an LLC bank account and keeping rental income/expenses distinct.Consider an operating agreement, even if not required by state law, to define ownership and responsibilities.Liability protection: An LLC helps shield personal assets, but you may still need landlord insurance and an umbrella policy to cover lawsuits and unexpected claims.Tax strategy: Rental income typically passes through to your personal return (Schedule E).

Since making a career switch to real estate, I've been involved in numerous studies adding my expertise in statistics and housing policy with NAR, HUD, Fannie Mae, Freddie Mac.

PachalAUTHOR · CONSULTANT · SPEAKER · COACH · INVESTORSubject2Institute.comRegarding the insurance aspect of a subject to deal, what are the main questions you would ask an attorney to ensure the deal is structured correctly as it relates to the insurance policy?

I have 2 rentals in SW FL- both have open insurance claims and a public adjuster is involved.My insurance policies renew April/May.

You need to know the law like the back of your hand, have policies and procedures in place to deal with problems swiftly/accurately/legally every single time, and be prepared to deal with tenants that push back hard or try to take you to court.

It also depends on all the other policies.

Don't waver from your policy.

.- Develop market-based compensation and governance policies.- Clarify the nature of ongoing government backstop (implicit and/or explicit).When could this happen?