The risk, and costs of liability and casualty insurance is one of the joys of property ownership.Two million is standard in commercial contracts that I deal with in Arizona.However, you as owner can ask the management company for Errors and Omissions coverage and employee dishonesty coverage if they are handling your funds, I would suggest you provide the proposed management agreement's insurance provisions to your insurance carrier for their review.

I like to manage the properties myself and when my tenants see that its me sending these notices they don't really take them seriously because I am "to nice of a landlord".So any advice on how I should handle this LLC situation or just keep it how it is would be greatly appreciated.Thank you.

Sounds like you are handling correctly.

That could potentially look like a prohibited transaction.I too would give them a call and ask how to handle it.

Also if I buy in Texas and I leave eventually I'll have to hire a management company to handle everything because of lack of connections down here-won't I lose a ton of NOI being "hands off" ?

Do you handle the material pick up?

So that leaves solo K or checkbook LLC IRA.I think I have a handle on the checkbook LLC IRA, and the sizable but one-time up front fees to get it set up (perhaps $1,200 I've seen), with minimal ongoing custodial fees since the custodian only holds one asset, namely the LLC.As for the solo K, I understand that it requires a current active business (Sch C or corp) to create the plan (ie. being a full time investor holding Sch.

We would help the students set up marketing, and when they got leads, they would expect us to handle them for them.

I know the downriver area from living here, and I am a firm believer that I should first invest where I can drive by it every day without too much effort.There are some wonderful opportunities in Detroit itself, but I limit myself to only a couple of neighborhoods I think I have a handle on.Listen to me talking.

If a cat or something tries to crawl through it will be cut badly.How to handle?