Of course 10k would not nearly cover all of them, which we would back out if that were the case. 

I was thinking that some of the monthly gross would be held in the LLC's name to cover repairs and other expenses (please tell me if this isn't normal).

Francis James Gillies “if you can't wholesale after this i've got nothing for you “by Todd Fleming cover some points on direct mail.

My fiancé and I just finished paying off her large med school school debt, and we put a suite in our house last summer that covers our mortgage cost.

Up to 5 or 6 houses you can get a very affordable "umbrella policy" which will cover everything in your life up to several million.

They are typically cover less stuff (your personal belongs are gone and they don't cover tenant possessions) but they provide more liability.

I have seen on this website answers both ways regarding this (the site administrator saying leave it in Sch A, and his colleague (also a enrolled agent) advising that it can be written off in Sch E, but that there are certain restrictions mainly -- you must have passive activity gains where the deductions are covered (no passive activity loss carry over allowed.

Won’t change much of ur financials, but good to get it all covered.

I am following pages 47 to 130 in that hard cover book.Swanny

I think umbrella policies can cover you fine for the most part, but I also am a big fan of just kind of keeping my mouth shut about how much I own.