Child gets sick or parents get sick and you have a large bill?

On a separate note, if my personal home and all my business is in the state of Michigan at this point, would there be any benefit to designing the business as a series outline or simply a parent/child LLC set up where the parent LLC would be created in a more tax advantaged state such as TX, WY, NV etc?

If I have to pay for a child's college tuition bill of $50,000 I can't do that with the equity, I'd have to convert that equity to cash.

The tenant is concerned about their child's health.My property manager suggested allowing the tenant to break the lease without penalty or offering whatever they request at this moment to avoid potential litigation.

It's like telling your child "you can become anything you want president, astronaut,.."

Conquering Chaos in Your Field Service Business: How AutoOps Can Be Your HeroImagine this: a disgruntled customer calls you, furious because a noisy technician woke their child during a recent service call.

Fair Housing law requires you accept the child, whether naturally born or adopted.

The author of most of the bills was evicted when he was in high school and the president of the senate was also evicted when she was a child.

Monthly Rent + Monthly Debt Payments <= GROSS Monthly Income * 45%This accounts for some people who have outsized obligations such as car payments, child support, credit cards, student loans etc.

There's a lot of lessons here - one for the parents:  don't lend to this ungrateful child of yours again.