Generally a standard umbrella insurance policy can protect you from a large amount of liability ($500,000 to $1 million).

I understand this is pretty standard but how do I know my money is protected while sitting in the attorney’s account?

Sounds like a standard lease to own agreement.

My question to the board, what standard are you using in the market to estimate value?

Or maybe you've always lived to a particular standard, and never considered what it would take to make a change.

But you'll have to come out of pocket any time you have a vacancy, any maintenance, advertising, legal fees, evictions, tenant damage, deductibles for insurance if there's a problem, etc.

A personal umbrella offering 1-2MM in protection is a few hundred per year depending on how many properties you have.Besides, your accountant can show you how this ends up being a deductible expense which is the usual argument against a personal umbrella.

I know this might not be the standard way of going about a deal, but it seems like a great opportunity.Thanks,Chris

The only reason I want to form the corp is to retain my capital for future investing unlike a S.P. that requires all income be claimed or deducted per fiscal year.

One major advantage is you know you are going to get at least part of the rent each and every month.However, these are all run locally and the standards, responsiveness to landlord concerns and issues varies widely from place to place.I don't have any section 8 tenants.