Especially since I was working with a lot of developers in Miami who wanted fat spreadsheets of 5 condo buildings in a market (each one could have 500+ units!).

Also - presuming you paid more for the property than was owed on the mortgage due to competition on the auction (several presumptions there) - the previous owners are entitled to those excess funds from the court - which gives them a resource to be able to afford our rental rates. 

If you read my posts regarding San Diego Covid eviction moratorium, I forecast a rising rent in excess of the already very high rent growth.  

If it keeps up, that should help soak up the excess that was built and bring everything back in order. 

So long as each LLC does not own more than two residential dwelling properties, or more than four dwelling units total, the LLC may require two month’s rent as security deposit.Although elsewhere I have expressed the opinion that placing each rental unit into its own LLC is maybe not necessary for limiting liability, if an investor is subject to the new security deposit limitations, the idea of limiting the number of dwelling units in any LLC to four rental units, now has an added benefit of allowing the LLC to require higher security deposits.Below is the pertinent portion of the statute:(4) (A) Notwithstanding paragraph (1), a landlord may not demand or receive security, however denominated, in an amount or value in excess of an amount equal to two months’ rent, in addition to any rent for the first month paid on or before initial occupancy if the landlord meets both of the following requirements:(i) The landlord is a natural person or a limited liability company in which all members are natural persons.

I am unable to see the applications that have been submitted, as Nomad Lease takes an excessive amount of time to process and review them.

Elevators are for fat people.

I would seek CPA advise on this if you want to make sure you are not taxed on the sale excess (boot).Good Investing...

Depending on the structure, we then have the Loss in Excess discussion or the Deemed Dividends discussion as well.Great post!

Have an Agent quote Excess Liability.