I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy.  

Youre going to have some complicated tax issues.

Currently, I find myself in a situation where a significant sum of my cash is held up due to complications between these entities.

We've had bookkeeping clients with complicated structures that apparently protected them to the maximum degree but they didn't abide by the structure when conducting transactions in their business daily (lots of unintentional commingling).

As of this week, I had an initial phone call with a Paralegal named Lorraine from RLS, who seemed knowledgeable and was able to answer 2 of my 3 semi-complicated questions. 

@Matthew Samson I’ve owned a business for 30 years and had some complicated tax issues due to having multiple investments in various states.

These bypass probate at not cost or complication.

As always, the rules are more complicated than I can explain in one paragraph, so check with your tax accountant.Myth 7: I can write off my STR's initial rehabSTRs or LTRs - the rules are the same.

Using co-hosts might help distribute management tasks, but this can complicate your ability to meet the material participation requirements, especially the 100-hour rule.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.