Additionally, they made the argument that, as a large company, if something went sideways with an investment, they would cover the losses.

With the potential for a small financial loss on your end, litigation would certainly not be worth the hassle and expense.

There are some accumulated passive losses but not much.

Because your second year is likely (oops, I did it again) to show a net profit instead of net loss.

Our program offers a range of coverage levels, including basic or special form coverage and actual cash value (ACV) or replacement cost (RC) loss settlement methods.

I saw this as a way to avoid a potential month loss rent due to tenant vacancy.

Turn the water heater valve off and see if that stops the pressure loss. 

As long as I understand the risk and mitigated the risk with sound exit strategies, I can let people live in my properties and I haven't had any losses yet.

I got an offer the same day from an investor and got enough to almost pay off the debts, although we recovered none of our money.

was there an agreement between you and your parents that they should share in the profits / losses of the airbnb / property.If there was an agreement, they should also be included in the LLC.It is best to discuss this all with an attorney.Best of luck!