If they are not safe or not built to code no lease language will protect you from a law suite.If you are trying to protect yourself from stupid just operate a safe business.

 There are many different ways to create a business model I would definitely make sure I understand all the laws and regulations such as fair housing discrimination fair credit reporting act and local property code before you go down this path you may be creating a lot of extra work in a lot of potential lawsuits and litigation if you’re not versed on the laws that protect tenants  I would just ask yourself what the goal of the reason you’re doing that is if it’s to save a little bit money or not deal with an incompetent property management company then you may want to change companies before you go through all of this work just as a side bar of what you’re trying to do

I know it has been on a tear and is probably a great area to switch a residential to commercial use but... you can run into a buzzsaw of local opposition especially in older, cooler neighborhoods where they tend to be just against change. 

I wish we could both qualify for FHA financing at once but the hubby who's a CPA just switched accounting firms last October so he wouldn't qualify without the 2 years of employment at the same company and my income alone probably wouldn't be enough to qualify me to purchase either property by myself, since a big chunk of my income comes from tips and self-employed side hustles.  

You should use limited warranty deeds to transfer the rentals from your personal name into your LLC, put all rents into the business account and buy a good umbrella policy for liability protection.

Based on the feedback I'm getting here, I guess I'll switch negotiating positions and require completion of work before the close of escrow, and deny his request to rent the unit.

If you ask very specific factual questions that don't involve any protected classes (which includes felonies) we can answer.

It doesn't really protect you in case of lawsuits.

This gives some amount of protection. 

In other words, in your portfolio -- yes, yours -- you could own a piece of a high rise, a downtown office building, a 100-plus unit apartment complex and more.Let's break it down.1031 vs. 721: How the 721 can protect youOK, so as awesome as the 1031 is, there are a few drawbacks.