Until you have $1 million or more in equity and really understand how to use an LLC, I recommend you just buy an umbrella insurance policy for $1 million.

There are many nuances in any one market that take time and knowledge to really understand.

@Tonya EnglishWithout a clear understanding of what this company does (or more accurately, does not do), the payment seems excessive compared to other services in the market."

I understand the safety concern.

I understand how important privacy is to our guests. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Understanding that you're in New York and the laws are leaned to be tenant friendly, I would still say this is the best way to go about it as a new investor.

I found it very unlikely that the government would not want to get their piece of the pie, especially if they had purchased a new primary home.Donyou have a Tax Code or Publication Number you can share so I can study up and understand your thought process more in depth?

From what I understand, a 1031 exchange doesnt apply in this case, and so I will have to pay short term capital gains on the appreciation ?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!