We bill it to the tenant but it acts as a first line of defense for a lot of claims.Get an umbrella policy.  

@Eric Boughner That must be why the applicant was very defensive. 

And personally if someone had that critique about my area of expertise I would take it seriously and not get immediately defensive.

(except in some market that's not being digitalized yet) Everything is so streamlined these days.Most of the 1 mil home buyer is doing 55 times more complicated job than what the realtor does, some of you guys maybe even using our product lol Comes with AI age, we don't even need those hundred pages, the AI can become the last defense if there's anything wrong with contract.And in all my real estate transactions, 95% I always find mistake, when I check every contract detail manually.

If you fail to send the accounting for the security deposit and the tenant sues you, you would owe 3x the SD and you have no defense (you loose).

From a defensive standpoint, take a hard look at your current expenses and decide if they're really more important than the savings you could put towards your property! 

This was our first BP Con, and we had and unforgettable time. Here is our BP Journey.Hey, BiggerPockets Community,
We wanted to share our story because, well, it's a bit of a rollercoaster, but it's proof that resili...

First, we don't know that this is the end of the market cycle, however it is safer to assume that it is and take a defensive approach to an otherwise offensive business. 

I purchased my tickets right after the conference last year.

The most defensible in an audit are expensive.