If someone had gotten hurt and sued for $1mm then these coverages would have kicked in.Having been thru the claim process on a total loss.

However, it adds up quickly if you analyze the cost of turning the unit, marketing, vacancy loss, and your team's time to find a new tenant.

At this point I'm mentally prepared to take a loss and be done with it.

My vision is for this meetup to be informal and organic.

From 2nd Mortgages to 1st MortgagesWhen I started, PPR was buying primarily 2nd mortgages. 2nd mortgages is essentially loss mitigation (helping the borrower get back on track and stay in their home).

If you reduce to $2,300 and are able to fill the property faster, yes, you are "losing" $100 per month, but even at that rate, it would take two whole years to equal the loss of the $2,400 vacancy month.

If your AGI exceeds $150K, passive loss limitations apply unless you qualify for Real Estate Professional Status (REPS).This post does not create a CPA-Client relationship.

I appreciate it.Aside from the option to be added as 'additional insured' they have the option to purchase a  "ProtectionPlus Bundle' from Surevestor, which includes several things like protection against eviction costs, wilful damage to property, over a $1 Million third party liability protection, loss of rent protection for 25 weeks etc.This is $50/month.

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties.