@Andrew Tyrrell form an LLC with 3 members would simplify matters.

Quote from @Katie Balatbat: I'm not an attorney, so let me simplify the answer.You don't need an LLC to invest.

Most SFR's when rented out show negative income on Schedule E due to the write off's, and without getting into a long explanation about how we calculate income in the mortgage industry, and other permutations about how you structured this from a business standpoint, you're asking the wrong question and trying to simplify a very complex question without understanding why it's an impossible question to answer without all the paperwork to review, and understanding what we're dealing with.

You can also try Metro Detroit insurance brokers: Noel Selewski Agency in Eastpointe or Simplified Insurance in Southfield.

To really simplify this, I am a fan of getting rid of income tax completely and creating a consumption tax. 

I used hard money for my first rental property and I think this method would simplify the process. 

I am all about simplifying life as I get older.

I'm also hearing the latest versions of the smartthings app have not been as good.When I start to research alternatives, they quickly go to either the simplified, very integrated end of the spectrum with Alexa, Google Assistant, Apple Home Kit, etc., OR the more techy, open-sourced stuff that starts talking about local networks and running on raspberry Pi, which is enough to know that's more than (I think) I'm willing to bite off.  

It can be simplified down to where do the numbers make sense, and is this an asset that I would want to hold in 5-10 years as it's in such a great location or such a desirable asset.In short there are three ways that you can utilize and capitalize on your equity. 1.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.