Had a quick question.I purchased the property for $500K about 10 years agoI'm selling the property for $575K with the Fire DamageI received an insurance check of $380K for the fire damage.After Paying off the Mortgage + Escrow + Realtor Fee's, I'll be left with about $150K.My question is will I get taxed on this $150K?

If a home is titled in a trust (or an LLC), the trust or LLC should be added as an additional insured to avoid potential disputes during a claim.To confirm, we reached out to an insurance carrier, who clarified:“A carrier can potentially deny a claim if the home is titled in a trust or LLC but the insurance policy is under the individual homeowner's name.

While a properly maintained TN LLC might be sufficient for those who diligently follow corporate formalities, the additional layer provided by the Wyoming entity can offer significant extra protection, albeit with increased complexity and cost.

Additionally, you can still find properties for 120-180k that will positive cash flow and hit the 1% rule.

When evaluating a property management company, it's important to look beyond just the management fee and consider the full scope of services and costs involved.For example, at our company, we charge a 10% monthly management fee, a $250 lease renewal fee (unless it’s a takeover tenant, which requires additional effort to establish a strong relationship - because usually people are changing pm companies for a reason), and the first month’s rent as a leasing fee.

The email I received today from BP only mentioned:  Free Property Management Software from RentRedi. 

Here's an article with additional FAQs on cost segregation studies that you may find helpful.

It will take time.3) Property management companies, chamber of commerce meetings, local commercial RE brokers, etc are all additional options to network and find people who do deals.

I think what @Garrett Brown is getting at is using this in addition to other methods.

Quote from @Victor Patel: I’m not sure where your property is located, but it’s likely that you won’t be receiving rent anytime soon.