If you plan to expand your portfolio, forming an LLC can simplify liability protection and operations for multiple properties.Consult a CPA or legal professional to confirm your tax obligations and evaluate whether an LLC or umbrella insurance aligns best with your investment goals and risk tolerance.This post does not create a CPA-Client relationship.

However, one tenant isn’t paying rent, and it looks like I might have to go through the eviction process.When evaluating a rental property, do you typically use the 1% rule?

I've paid the neighbors to log into their wifi before as well.

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves. 

Since we have been moving to the larger commercial senior living community properties, she is directing the transition to our systems and evaluating their leadership to determine if they will fit well with us. 

Try to dispassionately evaluate every opportunity with a goal of maximizing after-tax returns net of risk in line with your own goals and tolerances.  

Second, for you as a taxpayer you need to evaluate if your tax situation (e.g. property type, tax profile, material participation, etc.) will allow you to leverage additional losses generate from cost seg to optimize your taxes. 

I am currently evaluating Batch Driven, and I will evaluate others in the near future.

Property Evaluation: Will you require an appraisal?

Evaluate the situation to see if you could have done anything differently to mitigate the loss and implement changes to your processes, but know that this happens and hoepfully just not too close together.