Landlord may also increase the rent at any such time that a new tenant is added to the lease or premises.It's extremely important that everyone which will be living there be accounted for aside from a liability standpoint, think of this 1 scenario (out of many more) your tenant pays in full then when 'tenant' 2 moves in they decide to split the rent... this goes on for awhile but then tenant 2 - which was never placed on the lease - doesn't pay their fair share -- the situation just got very complicated if #2 is not on the lease (jointly and severally may not apply) and much more so if you don't have solid 'guests' policy, outlining who is considered a guest and at what point they become a tenant, aside from rent, there are provision in your lease that tenants need to abide by, if someone did not sign the lease and it is not outlined in your guests policy, they don't really have to abide by them. 

I have heard one person say you should maintain your ownership to 19 percent to limit your liability.  

There is generally no breach or liability for damages if the holder of an option chooses to do nothing.

So that when renting it out I don't hold the liability.

Do you need Builders Risk & Liability for a Flip, Vacant Dwelling for a property that will be sold, a Dwelling/Fire Polciy (used for 1-4 family rented dwellings}, or an Apartment policy (5+ unit building).  

As a lawyer, my mind immediately goes to liability.

The basic difference between a warranty deed and a quitclaim deed is the liability of the seller. 

The house is bad and it is a liability to have her and her child living there, but there are also other important benefits to me in a quick eviction. ie the cost/time savings in renovating both sides simultaneously, and getting a better tenant for the renovated side if she's not there.

If the biohazard professional were to remove valuable items intentionally or by accident, liability could occur to management.

The condo is a liability as well due to negative cash flow.