My fiancé and I just finished paying off her large med school school debt, and we put a suite in our house last summer that covers our mortgage cost.

Up to 5 or 6 houses you can get a very affordable "umbrella policy" which will cover everything in your life up to several million.

They are typically cover less stuff (your personal belongs are gone and they don't cover tenant possessions) but they provide more liability.

I have seen on this website answers both ways regarding this (the site administrator saying leave it in Sch A, and his colleague (also a enrolled agent) advising that it can be written off in Sch E, but that there are certain restrictions mainly -- you must have passive activity gains where the deductions are covered (no passive activity loss carry over allowed.

Won’t change much of ur financials, but good to get it all covered.

I am following pages 47 to 130 in that hard cover book.Swanny

I think umbrella policies can cover you fine for the most part, but I also am a big fan of just kind of keeping my mouth shut about how much I own.

If you like personal finance podcasts, I would recommend the new BiggerPockets Money podcast, as well as Radical Personal Finance (some of his episodes can be very long and drawn out, but there is such a variety of topics covered).

., how does the investor cover their debt?

It also is a great resource for covering rehab costs.