3) What problems could arise if a child is insured as a person, car is in LLC, and no commercial policy?

Hello all a long time neighbor of my parents has recently passed she had no will or trust in place and had a reverse mortgage on a property (300k debt) her administrator (her daughter) is anticipating the house to go into probate....

The guy in question is also a parent, and it's not just his STRs that are on google wifi.

@Jennifer Rysdam awesome, I’m glad you’re kids have a parent who teaches them about REI!

This house I wrote about isn’t actively for sale, it’s a friends parents who are talking about options and I’m trying to organize my plan just in case they DO decide to sell.

Maybe you could have a parent on your team to do the things that only adults can do, like signing contracts.

You'll be getting top dollar rent since you will be paying per student rather than for the whole unit, you won't have to worry about missed payments since the lease is guaranteed by the parents, and you won't have to worry about vacancy because when they move out, they get their friends to move in.

So I just started working for my parent's property management firm and things seem to be done super mom and pop style aka inefficiently.

If a tenant were to put up a small, temporary pool for their children and a friend's child were to drown, the "AI" status for the landlord would fill in this gap and can provide coverage.  

Imagine if your parents handed you a fully funded policy that would only grow over time with no additional premium needed.