The tenant's insurance policy should name you as "additional insured" so that any lawsuit against them would also protect you without having to file a claim with your own insurance provider.

@Natalie KolodijI am also on the hunt for a Real Estate CPA for Tax prep, planning, and filing.

Years ago, I could file claims for small, even minimal, damages on my rental properties, like a few fence pieces blown off during a storm.

Hence I will probably pay a good chunk of change to uncle Sam when I file my 2024 taxes.

Lenders title insurance policy should be obtained and all documents properly prepared and filed accordingly.

Since they can always file for the tax deed and get their money back plus interest, it is a no brainer for them and it's much more legal than laundering their money.

I also call the local court system to see if anything is flagged on file. 

They will help you draft the necessary legal documents, such as master deeds, rules, and regulations, and ensure everything is filed correctly at the registry of deeds.

Trying to get a sense if it's even worth exploring this on a smaller scale like I'm talking about.You don’t have to do anything but professionals will typically yield the best results (and save you a lot of time filing or potentially refilling)  

Many people mistakenly think that bonus depreciation only applies to new properties or recent acquisitions, but you can indeed retroactively apply it to properties placed in service after September 27, 2017, thanks to the Tax Cuts and Jobs Act.The IRS allows you to catch up on missed depreciation without amending prior returns by filing Form 3115 (Application for Change in Accounting Method).