Cost runs $25-50/SF depending on what work you’re doing, what market you’re in, how much mechanical work, siding/roofing.

Once the exemption is applied, the Assessor’s Office auto-renews it for you each year.Automatic Renewal: Yes, this exemption automatically renews each year.

Of course the trustee will need to be willing to deal with 100 beneficiaries and there would need to be a voting mechanism, but even the trustee and property manager can be replaced if need be. 

Auto-Owners is estimating it will cost $163k to replace, and Travelers is estimating it will cost $144k.

I have looked at the TOC of many of the books on syndications that have been recommended by BP members, but unless I am missing something they don't seem to discuss the mechanics of K-1 preparation for members of the syndication.Does anyone know of a book that does a good job of explaining how this is done, or have recommendations of CPAs that are good at this for smaller (say, $1 - $5 million) syndications?

On top of that you can buy an umbrella policy, which would give you protection in increments of $1MM for all of your assets (all your rentals, personal home, auto).

Frequent flyer miles, time share week, summer vacation in their mountain cabin, free auto repair, free will if they are an attorney, free honey if they're a beekeeper, what will the seller value, that your buyer could provide?   

@Jt Marting for your first property I would recommend finding one that just needs cosmetic help (bathroom, kitchen renovations) but newer mechanicals.

They should provide you with a certificate of insurance (made out to you) showing that they have Liability, Workers Compensation, and Business Auto coverage. 

All of my properties there have mechanical gas heaters or a fireplace so all my tenants fortunately had some level of heat