It is a less formalized process most of the time, but there are still safeguards and documents you will need to submit to us, so it's not free no strings attached money at all.Just to give you some perspective on terminology - partnering on a deal means that someone will come in as a capital partner, which means they are on the equity side of the equation with you as an owner.

S-corporations are still subject to some corporate tax provisions, which generally make owning real estate not as attractive for long-term ownership.In the simplest form, a single member LLC offers the best of both - strong legal protections if the LLC formalities are maintained (separate bank accounts, annual member meetings, etc) and easier income tax compliance on your Form 1040 (no double tax, no extra return, no corporate income tax rules).If you add a partner to a single member LLC (aside from another disregarded entity you own), you then have to file a partnership return (Form 1065).

The broker said it would be "important" for me to formally counter and put the revised terms in writing.

.- I get 3 mo bank statements during formal screening. 

In regular times you would be best serving 60 days notice, but it they don't leave, you still have to go through formal eviction proceedings.

Of course, that assumes the LLC was written correctly and you managed the corporate formalities correctly, otherwise it is just window dressing and does little to protect you.An umbrella policy is typically customized to your specific needs and rates vary based on your exposure. 

@Peter Morgan I would hate to make a formal recommendation because I am not too familiar with what moves in your market (and who knows I could be super incorrect!).

Formal education (trade school or college) also provides.  

-Additionally, this is my opinion and not formally legal advice.

I've considered the following options but I would love to hear if there are more options I didn't think of:Install a formal exterior door in lieu/addition to the storm door (safest option, costs time and money)Leave it as is and rely on the internal-exterior door as a good enough protection (riskiest option, however the neighborhood in general is very safe)Leave it as is and don't market the sunroom as livable space.