We are now suing them in TX small claims court as the security deposit was not enough to cover the 2 - 3 months rent after they trashed the house. 

Also, most Umbrella Policies only pay out if your underlying policy pays out, and the underlying policy will do everything they can to find an exclusion or that you were negligent (which you probably were) in the cause of action to get out of paying the claim.

Many companies are also limiting the claim for mold.

Hey could also claim he was mentally ill, not of the right mindset, he could argue he did not sign the agreement someone signed it for him.

I learned so much from the course and PCS, and I'm claiming all of my cost on my taxes.

Sure, I invested 5K into the Radd Reit, They claimed that the share price would be adjusted semi annually.

A magistrate is the lowest level judge who deals with landlord/tenant and small claims cases but they don't even need to be a lawyer to get that position. 

For example, it's difficult to appease a situation if 1 tenant claims they're using less electric/gas than another. 

If it is only one flip for now, I suggest you find a CPA just to advise you on State filing requirements, ensure you are claiming all write-offs and issuing 1099s, etc.

I've seen alot of people say to just go through the conventional lending, and then quitdeed claim it into the llc.