The liability coverage will come into play here.You can also increase your protection, using an Umbrella policy.Yes, until you make a claim, it's all wasted, just like that raincoat in your closet.Many will counsel you to use an LLC, but that does not pay to restore the property damages, nor keep you out of an injury suite.

Look up "Quit Claim Deeds"......This is the easiest way to place personal property into a business entity.

I'd love to be able to buy a plot of land and simply custom-build something from the ground-up if it's going to be a similar price as buying an existing MFH that I'm not 100% in love with.

Hi, any of you ever used UBuildIt for doing custom building?

There are couple advantages, but here is the most important:- You can map the unit and tenant to a property and anytime you enter a transaction, it will automatically prefill the property name- Has 15 custom fields with formatting whereas in Pro and Premier you have only 7- Payroll is included (Only in gold and platinum edition)- Unlimited data- Advanced Reporting is included!

In the event you purchase a 2nd home and claim occupancy of that home in order to obtain FHA financing that would be illegal as FHA/HUD only allows you to have 1 property of Owner Occupancy at a time. 

I use MOO for my cards... if you want 10% off on your first order, feel free to use this link: http://www.moo.com/share/fyh7pzI'm a customer of theirs, nothing else... they have top quality cards and it's a rare occasion that when I hand one to someone, they don't comment on it.

Based on the tone of your post, it sounds like the HOA is having financial difficulty and that may or may not change your strategy.On a side note, I do not believe your HOA will provide any details from the other claims, as that is not public information and should not be shared with parties who are not principal to the claims. 

You can hire a lot of things without hiring a licensed realtor such as a secretary, customer service representative, an advertising specialist, general contractor, cleaning service etc.  

You can even customize your own reports.Less then 8000 units: With QuickBooks Pro - you can use it but the features are limited and takes little more time and effort.