Takeaway thought: if you have your current house fully encumbered (refinance or use the current mortgage + HELOC) what can be taken from you in a lawsuit?  

Most banks have restrictions and a Clause where the mortgage/loan becomes "Due on Sale".The biggest benefit of going from personal to LLC is to protect your assets against a law suit due to an injury or death by someone renting or using the property.

However, my property manager advised against it, as it might inconvenience the tenant further, who has already refused access to the property at this time.I'm also wondering if I should contact lawyer to understand any potential legal liabilities, particularly regarding the possibility of a lawsuit from the tenant even after they move out.Any insights or advice on how to navigate this situation would be greatly appreciated. 

I wonder what happens when your customers realize that they can get together and file a class-action lawsuit against your organization for an insignificant sum of money.

I’m wondering if it’s not a better idea simply to buy in my own name, have an Umbrella Insurance in case of lawsuit, then get a DSCR loan. 

Not meeting that fate requires a real commitment and a solid foundation of skill, knowledge, and experience.I don't think these folks that get talked into paying for a class to do this have any inkling what happens to a GP when a project fails and if they did no way they would do it.. lawsuits are pretty much guaranteed stress off the charts.

You can try filing noise complaints or even a nuisance lawsuit, but whether that will help depends a lot on whether the next door property is inhabited by the owner (less chance of chance, more chance of poor attitude) or a renter.  

Remember if they walk away from it your name is still on the mortgage and you will have to take over making payments again and then get the deed back in your name via lawsuit….Are you really solving your problem?

Maybe this state lawsuit will actually get something done (although I kind of doubt it given how previous lawsuits have gone).Also, interesting how while everyone else was getting gouged, County Executive Frank White and County Tax Assessor Gail McCann Beatty saw very modest increases.

Now imagine facing a lawsuit because you missed a crucial compliance requirement.