I often break it down into the "five pillars" of protecting your assets.1st pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.2nd pillar is a good insurance policy as that cover the majority of your exposure.

That's totally unnecessary.

There are many reasons, but a few of the most common “misbeliefs“ I encounter on this topic are:1) Don’t know how to or not sure how syndications work (they think they cannot qualify when they can) 2) People believe they can’t afford to do so3) Not sure how to do so without incurring unnecessary risk 4) People believe they have to “manage” it themselves 5) People believe they need higher liquidity or net worth to do so In my experience (I’m currently invested 4 apartment complexes 534 doors as an LP), my wife is invested in 1 complex 282 doors as an LP, I'm a GP in 124 doors, and working on another 200+ unit deal as a GP in San Antonio Tx... my thoughts on these common misbeliefs are below:1) Anyone that is at least a “sophisticated investor” as defined by SEC can invest into a syndication, so long as you have a pre-existing relationship with the deal sponsor.

I'm assuming one is unnecessary in this case.Any advice on this would help a ton--I hope that at the very least, I'm taking action towards something.Thanks!

This helps eliminate unnecessary labor costs and avoid a lot of weather delays that can prolong an ADU project.

You need to calculate a cost for capex into an SFR, with a condo your capex may be unnecessary because those expenses might be covered.

But personal information regarding the owners finances or family situation is unnecessary to mention and it doesn't go along with the ethical standards that you are being held to by representing the seller.

You said it's a "sellers market", so (ask THEM), why should you be losing on the Sale price (other than unnecessary personalized improvements you may have made)?

It can save you from a lot of unnecessary run. 2.

I am a firm believer in keeping this business simple and getting your license is an unnecessary complication.