If it doesn't have a lead certificate on file, it IS going to cost you to delead, the state has pretty much made it mandatory at this point (at least if you want to avoid the liability of a lead paint lawsuit from a past tenant).

We went to a lawyer that specializes in insurance repair denials and he advised that if we pursued a settlement we would not want to repair the damage until the lawsuit was settled.  

If the words "Addtl Insrd" are not written then the property manager is only an additional interest.American Family Insurance: uses the additionally insured endorsement BP 04 02 01 06Based on my research the following insurance carriers don’t offer the additionally insured endorsement for property managers: AAA, Geico, Progressive, Allstate, Liberty Mutual.Farmers agents have told me they do offer the additionally insured endorsement but it only shows on the insurance agents internal files (not on the homeowner or property manager's dec page) so I'm not 100% confident I would be defended correctly if there was a lawsuit.

When an LLC is created and maintained in the right way, it can compartmentalize your assets and will provide a barrier to a lawsuit covering the assets outside of the LLC that is involved in the lawsuit.

If you decide to not do this, there is the risk of fines, and, worse than that, the LLC can be disregarded in a lawsuit due to it not being registered to do business in the State.

I recently learned that landlord has to have certificate of lead paint to protect from any law suit.

However he did passed all inspections, but now  after a $10K payment he demanded he refuses to answer calls, and has  not delivered the materials to compete the project.I have seek attorney advise, and of course they advised they are ready to sue them if the contractor fails to complete with the work as per contract,  however I have read that even if lawsuit is won, is extremely difficult to collect the money.I wonder if it is better strategy to sue them in small court myself for completition of the project or for $20K , which is the maximum allowed in NJ for small court, and that is really all I would need to complete  the project.A few points to mention, they quoted me $48K, I have paid them $45 so far.I still have $20K available to draw from my lender, but that is hard to happen since final work is not being done.At the beginning I stood up to make $80K to $100K in this deal.

I mean the hot tub would be great way to attract potential tenants, but if it's going to end in a lawsuit then it's certainly not worth it.

File a Small Claims Lawsuit.

Buyers are threating a law suit if I do not close.