IANAL, but just had a call with them and signed up for a holding company registration, and an LLC for a LTR in South FL that I have been running under my STR property LLC, registered in another state (which I don't think was giving me the intended protections for the FL property).

To simplify the existing lease I thought about asking the tenant if they would be ok modifying the addendums to get rid of the resident benefit package and the building protection plan. 

As a side note, FDIC insurance protects depositor money, not debt.

The Port Charlotte duplex...given it hasn’t suffered hurricane damage...could command a pretty penny on its own.I recall reading a piece in Forbes that suggests certain Florida markets could remain strong for years, which might help you gauge whether now is the right time to sell.

Holding properties in an LLC (or other legal entity) can offer valuable protection for your personal assets, so I understand why you went that route.

I see many warning signals that if CA doesn't get it's act together, act as if it has to compete, very strong chances it will suffer the historical consequences of that and CA the titan will become history not current state of things. 

They are designed to protect the seller (I have disclosed this), but not to substitute an inspection by the buyer.Sellers can only disclose what they have knowledge of.

.- You will have to come out of pocket for the arears, fees etc, just to get into "contract" some times $20k or more and all you have as protection is the word of someone who's proven to be unreliable and a signed piece of paper... 

While an LLC offers liability protection, it does not change how taxes are reported unless treated as a partnership or corporation.

How do I protect myself in this situation, while also helping a relative?