However, because some tenants like to "misunderstand" that term, I no longer use it. 

Insurance also doesn’t protect you from misunderstandings, especially those made in writing and email.

Insurance also doesn’t protect you from misunderstandings, especially those made in writing and email.

There are some that honestly misunderstand or forget but one reminder is all it takes.

That doesn't include appreciation, which many people call speculative, which shows misunderstanding of the nuances even more. 

@Alexander Felice:   Any chance you could elaborate on this or correct my misunderstanding?   

Insurance also doesn’t protect you from misunderstandings, especially those made in writing and email.

Thank you for your feedback, but I think you are misunderstanding my point here.

BTW, I have had tenants retail their own attorney, in the middle of last summer, and it sti did not go well for them even after requesting a trial in court.There are alot of misunderstandings passed on from one person the the next.

I think you misunderstand the idea of 'tax advantages'...1)the protection of assets...in theory an LLC does this, but that has nothing to do with taxes.