We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

These are amortized payments that include a return of principal each month.

We have an insurance policy on the rental house (through State Farm), that includes a personal liability section, which is essentially equal to our current net worth.Given that a tenant could sue for more than this if an accident occurred, we are thinking about adding either LLC or an umbrella policy (or both) as extra protection.Any advice on which way to go, and if LLC, any recommendations for a law firm or company the Indianapolis area?

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.

Still, considering how difficult it is to find a good real estate focused accountant, limiting your search to local providers usually gives you too few options.Expand your search to include remote CPAs.

Make sure you fully understand the market you’re investing in, including rental demand, property values, and local landlord-tenant laws.Building a good team early on is also key.

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

@Charles Kao I believe he means attorney & Title Services that are familiar with non traditional or creative Transfers or Sales of property that don't include Banks.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.