You comment about the request from Josh and Brandon hit home for me too.

In the operating agreement it obviously has to state where money goes if one of you get's hit by bus and keep it a 50 50 split also stating who takes the place of the runned over.Get the properties paid off.Ask these questions before your get in this situation.

The electric heat back-up is working but is not heating the entire unit efficiently.

@Cameron Mahoney - welcome to BP and sounds like you're hitting the ground running with your career!

A lot of outstanding HOA debt, and deferred maintenance can be real issues.In general, I went with SFRs, and still looked at the financials of the HOAs to make sure they weren't underwater.Anyway, feel free to hit me up for any more info or referrals.

If you can answer this question for me we can further this conversation if my gains don't take a huge tax hit."

It hit -12 in my area overnight.

I do mainly fix and flips these days, hit me up if you want to grab coffee, I have a westminster office I work out of a few days a week.

While this offers you the same coverage limits as the scenario above with the property in your personal name, it will likely be a little less cost efficient because the commercial umbrella only offers $1M additional coverage on the LLC, not on your personal home and auto.

An investor who has a good income but was just upside on the property and let it go may end up with tax hit while others may not.