I works both ways, and to think that all the liability should be placed on the contractor is bad thinking.

To know why, look at the Operating Agreement in the LLC, liability between members, a hold harmless and indemnification can keep some one from suing each other or the manager.I'd suggest moving on, report and assist the seller, but this will be addressed by others having an interest in this shame set up. :) .

We won't be installing any and would remove them if they were there, for cost, maintenance and liability reasons.5.

I assume you 1099 your other contractors...you can do the same for him.Just make sure he has any insurance/licenses you might want him to have.Unless you want to pay worker's comp, FICA, liability, etc., I don't see any reason to make the guy an employee if he'll only be doing part-time work.Just my $.02...

From the accountants' written report, names redacted:"Tax Filing Corrections:"After consulting with [[the property's]] Income Tax Accountant, it was decided that corrections to the depreciation, assets, liabilities, and capital allocation will be made when [[the property]] files its 2023 income tax return.

Obviously, newer homes are the "safest" bet because they will likely not need any major CapEx expenditure.What's the oldest property you would consider investing in for rental property before major systems (electrical, plumbing, etc.) become a major liability and expense?

Maybe it will be a little different for you in Texas.As for the insurance, you might want to get general liability insurance (if you have a business), and/or personal umbrella insurance.

I am thinking to have my uncle to do the work, so I don't have to worry about the liability issues, not sure it's a good idea since he prefer paying cash.2) What insurance policy I need to get while remodeling and selling period?

If you buy into a homeowners association/condo, you assume a share of their unfunded liabilities.

Finding good contractors is the next headache, I intend to start with those recommended by other REIA members, then try the web.I thought providing the materials myself was a bad idea due to the liability implications.