For example, if your property is owned by an LLC meant to protect your personal assets that could become moot because you are purposefully and knowingly choosing to operate in an illegal manner.

You should be getting more personal, not less personal.

🤷‍♂️Love this post and what Scotty posted.Congrats on your success thus far.As much as I love real estate and business it never is passive and never will be totally passive unfortunately.There is always a risk component involved and a reliance on someone.There will always be that gut wrenching phone call that makes the stomach turn.It all come's down to how much is enough for someone to live a happy life.I unofficially retired at 28 and am back chasing now at 36.Parents and family are getting older and have a huge will and in a way pressure to retire my old man.A beautiful person and father.I've checked off mum and uncle from the list hahaFew more to go lolI am and always will be a "real estate guy" per se but a few years ago I asked myself this question:"How can I get the highest possible return, with the least amount of risk, without doing any work and without involving anyone else?"

We do not NEED to do the refi but the plan is to eventually do it and remove the other person from the loan.

While rental demand is going down, there continue to be more people purchasing properties for personal use in turn causing there to be an overall shortage of rental units available in season.

These same owners also have no problem paying an attorney or CPA $150/hour or more.Many owners also don't respect their PMCs and try to treat them like a personal assistant at their beck & call.

STR and MTR investing is a different animal all together taking you from housing to hospitality and requires more of a time suck than many initially realize. i personally only do long term rentals and students. i do have a property in mind and making the connections to transition it into a sober living home. excited to see how that shakes out. 

For me personally I learned that I want to very much limit debt I would rather only have a handful of assets that are very nice but they are paid for.. as opposed to 100 rentals with max debt and all the work that comes with it.. 

Whether it’s worth it depends on your personal goals and financial situation.

If someone injures themselves and sues, they will be suing the LLC and not you personally.