If you ever want to chat more about this... or if you're curious how these strategies play out in markets like Austin or Scottsdale... feel free to reach out.

Staying with that example, I understand the operational costs and all that fun stuff.

You want to play the charitable hero.

Umbrella insurance will never come into play for Property damage (fires, storms, floods, etc.)It is liability coverage only.I'm an insurance agent and have seen umbrella claims from fatal car and boat accidents. 

He’d likely play the role of buyer’s agent, contractor, and rental listing agent—something we successfully did last June.

Pic for fun.

Hey @Pat Aboukhaled I was a fun night!

However, these properties are so fun that they are by far my favorite and most enjoyable investments and they have all gone up in value with the improvements that we have made.

Better play it safe and use a warranty deed instead.Also, later on when you sell your property, it will keep the chain of title cleaner for the next title insurance.Last but not least, a warranty deed does not cost more than a quit claim deed...

Playing small won’t serve you or your family.