I see people without capital being encouraged to increase their credit card limits to incur  $20 -40k debt which they are told they’ll “earn back” in the first one or two deals they do.  

Translation, $2400 per year.I currently just have insurance liability up to 1 million per property.Since I will be getting married and as married, you are considered as one, I’m wondering if I should LLC them due to the new wife becoming also a new liability in my life.For example, she causes a big car accident and ends up getting sued.

I have each of mine under a Landlord Policy, but then have an umbrella policy over my own home and the rentals; extended liability coverage.

I use it toward my advantage - not as a liability.

If your AGI is over $150K, passive loss limitations may apply.Setting up an LLC is straightforward but consider state fees, tax implications, and liability protection when making your decision.

Since the real estate is part of the transaction you can't do the 1031 exchange.You could consider an installment sale, to potentially spread the tax liability over several years.

If selling properties, a 1031 exchange defers capital gains taxes by reinvesting proceeds into another investment property, while Opportunity Zone investments can defer or eliminate capital gains tax over time.Long-term rentals should be held in an LLC for liability protection and tax efficiency.

Regarding liability  (only) for a park, using Auto Owners currently.

We all have limited time on this earth, with loved ones, to experience all the world's wonders, to help others, to try to leave the world better, etc.Best wishes

I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.