One of the first things we learned was the difference between physical occupancy and economic occupancy.

You can read all the books you want, listen to all the gurus, watch all the videos of "experts", but until you are knee deep in your own deal, you will never feel what it feels to be an investor.

We are considering self managing once we get enough properties that make it economically feasible and have already bought the software to do so.

Ease up on the agro responses.The reason the code limits losses in a whole number of areas is to not incentivize activities with limited economic substance.

The developer selling the deal, your own numbers, or an impartial 3rd party market expert?

However, my recommendation is to reach out to local experts to give you more "boots on the ground" info.

I am no expert by any means, I am still looking for my first deal in Dallas!

Also, since it covers multiple properties, instead of buying 2 million worth of coverage on every rental dwelling policy, you only need to meet the underlying limits of the umbrella with each individual policy and pay for the 2 million worth of coverage once through the umbrella.It might be less expensive for you to purchase that liability coverage on your rental dwelling policy now and start the umbrella later, but it will be more economical sooner rather than later.Typically the additional coverages over your personal exposures are worth it anyways.

As I acquired properties I went to $20,000 to take care of roofs, furnaces, a/c and economic downturn.

Several of my investors have contacted me to represent them here on the island as they know some will not have the patience to last through this economic downturn.