My first deal was by accident.

However, insurance is limited because it only protects you from one type of liability: accidents/negligence.

Fire, death on the tenants GOD forbid, accidents, etc are insurance covered , better than relying on LLC.

It would take a smart lawyer about 14 minutes to trace back to ownership of the out-of-state entities to the California LLC and then all of them would be liable for an accident that happened in any of them.

@Matt Katsaris I listed my car on Turo as an experiment and whilst I had some book requests, I just couldn't get over the possibility of them getting into an accident in SF city....

C-Corp's are not as horrific as you all are making them out to be.

I'm against tubs, harder to get in and out of, more accident prone.

We have refinanced and paid them off, but still.I wrote the addition was 40 sq feet by accident, it was 120 sq ft, average sales here are $225 - $270 sq ft, hence one of the reasons we started this with the assessor's office to begin with.I think this will all workout fine, there is very little inventory in this area and top dollar is being paid.

I come to find out the tenant has been in a coma for over a month from a car accident and of course can no longer pay.

In case I am in a car accident and I accidentally kill somebody the umbrella policy offers coverage.