For example, I have a cabin near the smokies that I purchased for about 1.1M, the land cost was only 50K, but had a lot of bathrooms/fixtures, 2 kitchens, window coverings, etc., and my cost seg firm was able to hit 30%, so I got to write off about ~300K against my W2.There will be depreciation recapture when you sell, but it is a lower tax rate (25%) than what you are at currently, I assume. 

Insurance companies have many exclusions and they may not cover everything, but they can help to pay for some of the costs of a lawsuit.Good:Using one LLC for all of your rental properties.

Yes, the general liability amount on my policy covers the amount I’m being sued for.I guess my next step will be to contact my insurance broker and ask what the next step should be.

Covid should be a reminder vacation rentals have tempting pro forma returns, but income can get eliminated overnight.Even something as simple as seaweed - The last time we were in Tulum there were mounds of seaweed covering the sand and the water was brown as far as we could see.

If we screen them correctly as you suggested and don’t jump on the first tenants that shows interest, we will be in good shape.

You can still learn investingTeam up with someone that does have money and become their assistantIf you have a lot of money and no time, either look into syndications or find someone who buys properties for people who have no time, like us.If you want to do Subject ToHave about $30,000 available liquid cashIt is Not “no money down”Borrowing from others to cover the costs for doing Subject To has serious legal consequences and is extremely risky for you, your 2nd position lender and for the sellerIt is easy to do the contract (Transaction) for Subject To, but it is very hard to do the next few years correctly.

Go to BUILD YOUR TEAM at the top of your screen and you can search for people.

Cover all closing cost and keep difference.

Can you cover your interest only payments for the life of the loan?

I just need to know if it's a bad idea to hold onto your house if the rent will only cover mortgage or possibly be lower than your mortgage cost.