Pro-tip: Find SFRs with multiple living spaces (ADUs/mother-in-law suites) and house hack those.

We're looking to do everything right but we're also aware that there are lawsuit crazies out there that want to sue you into oblivion every chance they can get.

There a way to go to court and force the other party to sell, its called "Partition Suit"  however, that's going to take filing a lawsuit, going to trial and paying an attorney. 

Most of the time, they'll move out somewhere in the middle of this whole process and you just drop the lawsuit and everybody moves on with their lives.

A General liability policy will keep you covered in the event that someone tries to drag you through a lawsuit or you lose business income due to a loss.

Many reasons, one major one being that if a tenant loses property in a event such as a fire, your insurance likely doesn’t cover their property and if they do not have any recourse to recoup the losses there is a chance that you could face a lawsuit from the tenant. 

I’m also open to single family home with an in law suite, that way I can rent out rooms and live in the in law suite. 

Some of the due diligence that should have been done is how to protect my money and profits from lawsuits and taxes.

If you google "Landlord RUBs billing in New Jersey" it will pull up past tenant/landlord lawsuits where the landlord did not register with the Board of Public Utilities. 

From several partnerships that ended in lawsuits one of the most important parts of the partnership agreement is having a written exit strategy.