I guess there are two schools of thought on what a millionaire is: One is if total assets - liabilities is greater than $1 million.

I figured there may be some liability with them doing this.

If so, it is a liability.

If you're not going to create a business entity or limited liability entity, just go find a local bank or credit union with an inexpensive low balance checking account and open it in your name with your ssn then move the money for investment into that account.

You only provided the street, not the address, and the Bing did not have a street view, so who knows what you are buying.Did you figure in your personal tax liability?

What amount of liability do the policies have?

In addition, being a broker brings a lot more liability to the table and you need to have a lot more things in place like banking, escrow and insurance.No need to rush it in my opinion.

I'm looking to purchase workers comp and liability and insurance companies are asking if I have a safety manual and safety training in place.

I want the liability protection and the ability for tax write offs.

You carry your mortgage as liability on you balance sheet; the bank carries your mortgage as an asset on their balance sheet because they collect money from you each month.