Insurance is going to protect you financially from lawsuits, damages, total losses, and other scenarios we can't even begin to imagine until it actually happens.You'll want to have a broker you can work with and trust that will make sure you're properly protected in the event of a loss.

My questions are;Do I have to take expenses as a deduction in a year in which they occurred even if I do not get income until the following year  I have other rental property, but my taxable income on them after expenses is only gonna be about $5000 So is there anyway to roll over expenses to the next year since I cannot deduct the remaining 15,000 and expenses against my W-2 income?

They even have awesome free resources as well. 

We haven’t even talked about the lack of ice make which is probably just as bad.

Like what does that even mean?

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

However, it's important to keep swimming even when the current is against you.

They talk to the tenant for you and do maintenance without you even hearing about it first?

Be that as it may, with this approach, you will have to provide some value for your folks even to consider this.

@Hai Le - Usually you have to provide written notice / 30 day notice if you decide to not renew their lease or even just asking a tenant to leave.