If your CPA told you that you would be personally liable differently than your partner because of the tax distinction of GP versus LP, I suggest you get clarification or a second opinion.

Both of these are normal maintenance items that are solely the landlords responsibility.The real distinction, as to what is considered damage: obvious items that were caused by somebody’s misuse, or neglect.  

Also prices are high, and there is distinct possibility that rents will be challenged (at best) in the next 24 months.

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Of course, Wells Fargo is in a distinctive situation not shared by the other large banks – its balance sheet has been restricted to a $1.95 trillion cap since 2018 by the Federal Reserve as a result of its 2016 retail banking scandal.

Account ClosedI'm certainly not an expert on this subject yet, but as I understand it there is a significant distinction between raising money from friends and family (or other people with whom you have an established relationship) versus soliciting individuals (or business entities, I suppose) with whom you have no connection.

In California however, the the state and the courts have not explicitly made this distinction between SMLLCs and MMLLCs when it comes to liability protection.

@Teja Williams it's probably important here to make a distinction between the asset (i.e. the property) and the owner (i.e. the legal Trust).

High risk that a condo association will not see a distinction between a MTR and STR, and will implement 1 year minimum lease requirements.

I see two distinct items, one is a "tax consultant" and the other is "someone who is experienced in doing taxes for real estate investors."