Listing them as an “Additional Insured” rather than just an “Additional Interest” will also safeguard both parties.For the LTR unit, your landlord policy should include property damage, at least $500K in liability, and loss of rental income.

Set aside a big pile of cash or rely on a line of credit you won't be using.The oversimplified insurance concept is to pay a small premium to cover a large loss.

Insurance deductible is $5k and I was not planning on filing until I found out about the total loss of the wood floors.  

https://getpocket.com/explore/item/meet-the-woman-who-builds...Fun article about the woman who created a few interesting STRs including the Potato and the Hobbit Hole.

A new person doing an OOS BRRRR right now is ripe for a loss.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

The most important thing is to ensure your loan is covered in the event of a loss.  

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

Or just sell it at a loss… I need some guidance here, I know very little about real estate investing other than I know I’ll be losing money after maintenance and paying a property manager.

Just curious, is there any tax benefit to filing as a regular partnership and issuing k-1s to ourselves that show a loss?