Guess what, even if you win, you will lose because you're paying the legal bills for two lawsuits.I could go on and on, but you get the idea.Good Luck,Mike

Sometimes I offer ideas that I know are not legal to see if they also know this.

At that level of court, you aren't getting the best qualified judges, and sometimes they follow their own law instead of what is in the law books.Whatever happens, wait patiently for your first legal opportunity to get rid of your parasite tenant.

Tenant screening, advertising, legal fees, maintenance, property management, etc.

Michael, I'm not a lawyer so seek competent legal advice, but here is what I do.

Jon, regarding your question (and mine as well) on keeping legal with the SEC, I found this companies website.

I have been itching to get into a topic like this.Who can blame a company for attempting to avoid or legally shelter themselves from taxes?

I always thought it would be something like:Buy a house at price XRent it out at Price YReap profitsI didnt know there so many legal stuff that you have to go through and so on.

But you'll have to come out of pocket any time you have a vacancy, any maintenance, advertising, legal fees, evictions, tenant damage, deductibles for insurance if there's a problem, etc.

(unless you've got 20+ properties, in which case you might want to open a separate LLC just for PM of all the units) If there is a legal employment agreement (or "work for hire"/independent contractor) in place between the LLC and you the employee, then only the assets of the LLC can be attached in a judgment and your personal assets are safe.