Did we learn anything, yes but alot of half-truths too.Came home and created a Nevada S-Corp and put an LLC under it, assuming we would go national.Property bought was in Calif, so more expense to Foreign File both entities.Started looking into creating my own Property Mgmt (PM) business to control out-of-state holdings.Then I learned:PM requires a broker's license or to be under his control almost everywhereThat stopped National expansionwhich then made the S-Corp and LLC unnecessary (to me; I accepted personal risk)Did get good liability insurance and suggest an extra Umbrella policy if you're going to buy&hold (aka become a landlord).

Any preferences out there for insuring a single family home being used as a group home / assisted living home??   Our normal insurance contacts are not interested and need to find a good contact asap.  Thanks!!

What paperwork need to be filed?  

Regardless where it's created, you must Foreign File in every state where you "operate with Nexis" and that will drive expenses up.

AC will need to file for bankruptcy or the state will take it over, the situation there is bad because of business.

Their presentation of their due diligence product priced at $77 and $750 per file looked like good "insurance" for the new investor (would I have bought my first file if they looked at it?

Hi Keith:You will need to navigate to "Tools" - "File Place" and search for my document.

@Oliver JosephsIt sounds like the damage to the building wasn't significant enough for the Association to file an insurance claim, in which case, your unit would've been promptly repaired. 

Have a lawyer draw up a joint venture security deed - which is filed at the courthouse.

The one thing I've learned is make sure to know the closing process (in Arkansas, in order to get the taxes transferred to the buyer, we have to file a Warranty Deed and Mortgage.