One began selling custom flip flops, (bought their own material with money saved), Another who was always encouraged with a camera, attempted to take pics for young people proms, birthdays etc.Then they helped me with a former biz of cleaning up HUD properties during the housing crisis on early 2000’s.Next, but not all of the details for sake of my response.

Also that aggregate losses can exceed 25K over multiple years and carry forward indefinitely to protect future “passive” income.

I've seen an overwhelming amount of utterly freakish craziness up close and personal, and I can confidently bear witness that white people always end up being the freakiest freaks of all.I was going to call BS on this one when I stopped and thought....Hmmmm... every customer I had as a GC that was an absolute insane nightmare.....was an white uber-rich entitled A-hole.

And if you need to change it you'll know what & why and be able to explain it to them if need be (your soon-to-be current customers that is).Best of luck to you!

Your LLCs are mostly for asset protection.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

In this business you need to be assertive in protecting your interests and your business's interests. 

Are you going to learn all the state and local ordinances to protect yourself from legal mistakes? 

I have a responsibility to protect them from identity theft.If you are a Property Manager, you should only share the minimum and keep it generic.

Now, if sitting on a pile of cash, that is "insulation" or PROTECTION for the various "what-if's" that can and WILL arise for persons in such OVER-leveraged positions.