Some great tips I have learned over the years:  bump every property liability coverage from 300k to 1M. 

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

We are finding conflicting information as it pertains to insurance and liability. 

The insurance quote is $1476/year, deductible $2500, 300k liability. 

There are advantages to many real estate assets, but that doesn't mean you invest in the them just to get a tax liability.

Liability, despite the significantly higher dollar amounts, is significantly less in commercial space. 

Hi @Inderpreet SinghAn Umbrella Insurance policy is a cost-effective way of getting your general liability coverage up.

If you already agreed to it, no way you let someone else do work other than YOUR contractor on YOUR property, for liability alone. 

@George JanIn my opinion, there isn't as much regulatory compliance or liability with something like a municipal bond.

Chris...The property is paid off...currently sitting empty...with needed minor repairs.Trying to deferr Capital Gains Tax liability until my earned income is lower in retirement.Would this change your mind?