Especially if it involves the loss of a limb, permanent disability or death.Lastly, it wouldn't hurt the project owner to carry a RIDER for a specific project on their own homeowners insurance should they own a home as the plaintiff's attorneys will surely be looking under every rock for people, places and things to name in a lawsuit. 

I get it for rentals, where you can accrue rent/expenses based on time vs. payments, but for a flip the earnings process isn't substantially complete until closing.The other question is why you'd want to accelerate rev rec into 2015, unless you're taking a loss on the transaction.    

You may also have insurance for Property Damage, Boiler & Machinery, Fire, and or Rent Loss.

If it were me and I didn't have the equity to make it a viable  investment I'd sell the property, cut my losses, and invest the money elsewhere.

For each and every turn-over, it might cost you high hundreds or even thousands, this will translate to rent months and even loss rents on the eviction period of an ugly tenant; if you spend two thousand on the turn-over, and you're paying 200-300 in mortgage, then probably it is worth looking at. count your blessings and try to sit it out, he still pays, if he misses a few months rent, maybe only then.

How does that reduction compare to the potential other losses?

He wrote up a a simple release of liability clause that everyone (or their parents) had to sign, stating that the activity (be it BMX, Freestyle, etc. were inherently dangerous and could lead to injury or loss of life, and released us from all liability) Also, make sure they are responsible for all upkeep, maintenance on bikes, ramps, etc. and removal of ramp.

They can all work at different times, imo.Good luck finding your own method.Rich Awesome insight Rich,This is the same track I've been researching, thanks for the post to reiterate that there are others other there  on this same path:- the balance between cash flow, tax shield from depreciation, and projections to figure out how to net "0," on paper or as close to it as possible- building up the passive activity loss bucket in anticipation of properties or other income producing activities that have income that exceed expenses and depreciation so I can keep the net "0," balance for tax shield purposes- use of entities, revocable and non revocable trusts, and Life insurance to exit life with no estate tax, fund trusts with perpetual income and asset growth by auto/default design to perpetuate indefinitely into future generations

That $30-$50k deposit loss represents an entire years salary.  

Real estate investing courses/gurus/experts come and go just like the weight loss and diet programs - most are worthless.