One of the most essential is general liability insurance, which covers claims related to bodily injury, property damage, and personal injury that could occur on the job site.

The property is located next to our local university and is renting essentially as a 4plex by room.

If you hold all these positions and this information is publicly available on the Secretary of State's website, it becomes easier to connect you to the LLC and its assets.Many professionals offer services that allow you to use their office as the business address, which helps protect your privacy by avoiding the use of your home address in public filings.Additionally, a robust Operating Agreement (OA) is essential.

They encourage members to identify their Avatar – essentially pinpointing the role or opportunity that suits them best.

Hey Mike,You’re right, Zillow and Craigslist are the big names when it comes to FSBOs with actual addresses, but there are a few other tools worth looking into that don’t cost a thing.One I’ve had good luck with is Fizbonanza.

Was it essentially mandated by the federal government that everyone get it (regardless of your personal risk level - which if you aren't old and fat or have a pre-existing condition is almost nil)?

@Sridhar Das, Like @Sam Cohn mentioned here, a 1031 exchange would allow you to defer all of the tax and depreciation recapture.Investors looking to scale their RE portfolio will use the 1031 exchange and allow that tax to work for them by reinvesting into larger or multiple investment properties, using the BRRRR strategy.The 1031 exchange allows you to invest in any type of real estate as long as it is held for investment use. the 1031 is a great tool to team with cost segs and BRRRR to maximize tax savings and give you maximum growth potential.

What’s wild is how few people outside the RE space understand how powerful these tools are when stacked together.One thing I’d add: this strategy becomes even more scalable with larger multifamily assets, especially when working with experienced or vertically integrated operators.

@Tahmid Mia Automated underwriting tools and market analysis tools are the key to making lots of quick and reliable decisions, allowing you to spend your time doing things that actually matter instead of wasting time on pointless 'deals' you'll come across.I wrote my own suite of tools for California, contact me if you're interested in trying them.For example, if you know how to code, you can try out your own ARV algorithms on runcomps.dev - I have a LOT of experience on the data/analytics side of things. 

This account can be a great tool to defer and grow income.. ultimately helping to lower taxes paid in the current year and over a lifetime.