If you get a general liability policy it only offers liability as it pertains to the rentals and you may be able to find a policy for around $500 a year.

The Landlord shall, at the Landlord’s expense, maintain the Premises in a safe, habitable, and sanitary condition and comply with all laws, ordinances and regulations pertaining to the condition of Premises.

You sound like you're probably headed for deep and shark infested waters on an air mattress, (LOL).Land contracts are pretty well dead in the water, two issues, one is with the new laws pertaining to seller financed transactions, if you pass a lending contract on to a buyer you're facilitating a loan assumption and doing so as a business may have consequences.

My comments pertain only to an out of state owner purchasing such a property, there are things to consider other than cash flow.

This weekend I was in a master mind with other companies and one was from Florida and apparently Dennis does have something to worry about as it pertains to his state.So Dennis, I think enough feedback is on the post here to warrant you either getting your license or buying the properties, because the whole felony situation is not worth messing with, IMO.Good luck and let us know how it is resolved.Chris

Therefore I want all my expenses pertaining to that property to show up as expense accounts and not as a negative income account.

Laws are written to protect all parties involved, and in most states here recently they protect the tenants more.As to whether or not you will be summoned I could care less that is between you and the OP, I simply think that as a business person you should always follow laws that pertain to your profession so that things such as this do not happen.

Would like someone to give me my best options when selling as it pertains to tax strategy.

My rule of thumb is to not respond to any that have blatant spelling mistakes, improper grammar, or are just not responses that pertain to the context of the ad.

There is definitely a clause pertaining to disturbing the peace, good call there!