They also will be liable for any capital gains.On the flip side of the coin, in the event that there is a lawsuit against the property owner, because of an injury on the property for example, having the property in an LLC can be an added form of protection against your personal assets.My best advice for you is to seek the counsel of a real estate attorney to see what form of property ownership is in your best interest.

What good is the financial savings by holding property personally if you just have to sell it because of a law suit?

Your friends, family and day laborers are consider independent contractors and not employees so technically you sub the job to then but then that means they are require to get insurance themselves but that doesnt make sense if a friend is only hire for one day to paint 3 rooms.Whats the right insurance that would cover for any lawsuits and injuries in case a friend, family member or day laborer are hire for a job and something happens? 

If you own two rentals and they are both under the LLC, lawsuit takes them both and you pay CA that juicey annual fee for the LLC.  

Banning the lawful use of a patients medicine might just become a lawsuit.

Lawsuits?

is having a llc sufficient enough to protect me from their mistakes as in if they get a huge law suit the only thing i would lose is what is in the llc?

Doing this does open yourself up to huge liability and lawsuit, especially if a flip goes bad and you make yourself whole while losing the investors funds.

Couple things in mortgage news:NPR ran a story this week about #veterans not getting the forbearance promises made and they are in foreclosure.Eight days later the VA halted, stopped foreclosures for #VA loans until May 2024 to get this fixed.https://cgbarbeau.blogspot.com/2023/11/va-stops-foreclosures...Mr Cooper now seeing class action lawsuits from not having adequate security measures.Mr.

Hi All, As an industry partner, I would love to hear feedback and create dialogue on what real estate agents feel are changes ahead based on the settlement for the lawsuit.