@Debra BeeIs your property in a business such as an LLC, S-Corp or C-corp?  

Another thing you might want to do before investing is to form some sort of a corporation or a LLC.  

Or should we just form a blanket corporation (or group) to encompass all of these aspects until we've grown large enough to split into the various entities?  

Excuse me but I hate corporate america.

Corporations blindly buying properties.

I'm really looking forward to this challenge and hope to become self sufficient at some point, because at the age of 32, I've had my share of the corporate world and want to start living on my own terms.  

I assume I don't need to add in the FLP as an insured as it would be only a holding corporation.  

@Sherri Li You could elect the LLC to be taxed as an s-corp so that you would file an 1120s corporate form instead of being classified as a partnership. 

Just do what is average   You might to form some time  type of corporation or a LLC so you will protect yourself from others.  

What's least understood is that while the building tenant or upper corporate management located elsewhere may sincerely believe they're making the right choice in the best interest of the company to save money, in most cases, the end result leaves much to be desired whereby the tenant may actually be unaware of their having to pay more money in postponing the inevitable making an existing condition much worse than it is as time goes on.