I could buy a LOT of umbrella (additional liability) insurance for $13,000.

I am looking to purchase real estate for both investment purpose as well as to offset as much tax liability as possible. 

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

Account Closed a PMC has two options to get liability insurance (tenant slip & fall) protection:1) Get added to owner's policy as Additionally Insured (NOT named insured).2) Setup a master commercial policy and add every property they manage to it and then charge those owners the cost of the policy.Otherwise, a PMC CANNOT get liability coverage on a property they have no ownership interest in.So, nothing wrong with their request.

Such as Accounting fees, home office, business liability insurance, and similar.

You need this property because of the tax code --its one of the categories where a taxpayer can meaningful reduce tax liability.

This active income can help me fund my retirement as well as help me get reimbursement for home office and health care premium while lower my tax liability.

What’s my liability?

Britt,My firm has evaluated some smaller properties (under $500k) in the past for cost segregation, and it generally does not cost justify moving forward, since the benefits are small, and typically the tax liability on the income is minimal if any.

Congratulations @David Shaun - those are awesome numbers, and should hold up with the low liabilities, regardless of market.