If the purpose for the entity is liability protection, you should be having a conversation with an attorney.If the purpose for the entity the accountant should be able to provide any feedback if there is any tax saving opportuities with the LLC formation.Best of luck to you

Did you ever find out more information about insurance and liability?

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

To add to @Patrick Roberts post - this loan type will require you to qualify with income and liabilities = DTI ratio, which will include the rents you pay to your NV home.

Their customer service department is very responsive.When selling a service as taking care of everything and handling the complete process, this includes all forms, liabilities and considerations for that particular need.

Basically, they are abbreviated inspections that focus on the more expensive liabilities that investors are looking for instead of under-caulked windows and damage to drywall.

I’m required to have liability insurance for my contractors license, and I’m wondering if there is an appropriate way to consolidate insurance. 

If something happens and someone is injured due to over occupancy you could open yourself to legal liability and you would have to check with your insurance policy to see if you are covered since you knowingly would be operating for more occupancy than permitted for the structure.

Live frugally and try your best to turn your liabilities into assets.

Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:2001 Space Odyssey Dr, Cody, WY 82414This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.All parties sign to confirm the change.