Your $10/night example is unnecessarily ludicrous.  

I would have to say that not 'sure-ing' up your tenants and your property with all the legal documentation necessary so you know your rights, the tenant's know theirs and you don't end up in court unnecessarily, thus creating further expenses.

Also keep in mind I don't want to add things unnecessarily and have expenses without supporting income, unless you think its absolutely worth it!

(Seems to me Doc A unnecessarily splits out Managers then Members on the excess, but since it's in proportion to ownership, order doesn't matter, right?)

Before I answer Sorin, I need to take care of something.Ahem, *Clearing my throat* - OBAMAThere, now since J Scott said he won't respond to any threads I unnecessarily bring up Obama in we won't be bothered by anymore of his condescending posts intended merely to ignite conflict.Originally posted by Sorin T:Thanks for proving my point Tim, that just about every other civilized country out there has universal coverage.Do we do it just because about every other civilized country is doing it?

Some people recommend a separate account per property, but I find that unnecessarily complicated.For tax purposes, it really doesn't matter what accounts you put the money in.

I am careful to do all disclosures because lead is a serious inhalation and ingestion hazard (think children), Asbestos is handled the same way.

@Michael Evans  Good Stuff, more to ingest.

Doubtful that there would be any Federal agents rooting around in your attic, but if somehow your tenant's or a neighbor's pet (or child) were to ingest some and die, you could be in trouble were they to trace it back to you.

Had you owned it in an LLC the judgment would have only attached to his proceeds from the sale of the property (if you decide to sell it), not the property itself, and the judgment creditor can't foreclose.I'm not a big proponent of forming LLCs for the casual RE investor who works alone and many LLCs are formed unnecessarily.