Quote from @Beth Johnson: @Marina Wong No. we just charge the servicing set-up fee at close.

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Hi Jorge,It’s exciting that you’re considering a jump into 20+ units!

You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return.

This step by step process is all laid out in Scott Trench's book "Set for Life".

Consider duplexes or triplexes that can help offset your mortgage and provide steady income while you figure things out.

It’s a little more work to set up, but if you get a solid property manager, it’s not as scary as it sounds.If I were you, I’d keep digging into the Capitol region, NJ, and CT—compare the numbers, and maybe even start building connections with agents or wholesalers in those areas.

TLDR version: if you switch to default tax settings, you'll be responsible for remitting ONLY the 1.75% county tax out of the payout.