My agent mentions to go with excess liability for each policy and list the child LLC as well as the parent. 

After going through the inspection stage I asked for some repairs to be made, some mold to be removed and the sewer in the basement to be unclogged since it was a bit backed up.

Buy in volume, if possible and store in your warehouse or off site facility (when you get to this stage). 

But the other 96% includes people who are seminar junkies, people looking for more info who have no intention of doing anything at this stage, people looking for dates, and a big chunk who eventually take action later.  

With you as the owner when the municipality foreclosed for taxes, you would also be entitled to any overages (amount bid in excess of the taxes) resulting from the municipal property tax foreclosure sale.

So, I can renovate any property in the US to move in condition by doing a cosmetic upgrade for $XX depending on the size of the property.This is just step one to get to an offer stage...you'll need to bust *** in due diligence to confirm your assumptions...a great agent can be your best asset here...or your contractor network.Unfortunately, the real solution is a wildly complex algorithm that will only get you marginally better results...remember, acquire properties by going through phases...phase 1 is getting comfortable with an offer based on what you know after the first filter...entering due diligence is where the real work starts. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

The very basics of this new deal are a pair of 4-plex properties (very nice properties) that generate in excess of 4k a month in rent that I am negotiating to purchase for 175k cash, but actual market value prob 225k+ conservatively.

A general contractor knows how to stage a job to prevent overlap of trades.

Stages of change:PrecontemplationContemplationPreparationActionMaintenanceTerminationI sense that your partner is probably in the first phase of your REI journey, so thinking of "cutting your losses" may be premature.