Many never would have invested again and been bitter for lifeHey Jon, I heard a quote from Tony Robbins once that said that most investors have a big massive loss and they can never get back on the horse again and that is what defines who they are for life.

I asked our previous CPA about bonus depreciation and was told “the IRS frowns on multi-year losses.”

You can potentially pay yourself for services that you perform - It may be a wash or potentially at a worse off situation(if your rental losses are suspended).Salary to yourself is income.

Sorry to hear about your loss.

And to top it all off one of the silent investors is threatening to sue for his losses. 

I would imagine there are many investors, first time or otherwise that would have a much different experience and I wouldn't say that a first time investor should start in that area unless they can stomach the potential losses that come along with the risks.  

We've had people send us chocolate-covered cherries, popcorn, cookies, and more, and while we love that gesture, most of us are on a diet and it ultimately goes to waste, ha!

Put a time frame in the demand to supply the full CCR's, budget, bylaws, loss payee on the master policy... and right to approve.

If a fire does, indeed, occur, and there is loss of life, you are going to be in major trouble. 

I insure for replacement value, not just market value, make sure you get rental loss reimbursement coverage.