Bott's coverage issue above, yes tenant damage may be excluded, but in addition all liability coverage would be excluded if written on a personal lines policy.The key to insurance is this, tell the insurance agent exactly what is going on, if they cannot handle it, let Br.

Indeed, I am just facilitating the tenant's early departure while trying to mitigate their liability as a consequence of the default.

If the paint business you own starts making a monthly income of 40% or more of the loans mortgage and your liabilities/expenses are low enough, wouldn't the bank not have a problem giving the money to invest into real estate for strictly business and not personal purposes, if your numbers make sense?

I can see the LP and multiple entities are the best way to go from a liability standpoint.

I require vet records showing current shots and breed not in restricted list, AKC canine good citizen certificate, dog license, liability insurance of at least $100K with me listed as additional insured, and 1.5 months' rent security deposit instead of just one -- no outside dogs, and no puppies.  

Personally, my lease states, refund to any leasee releases all liability to all parties.

I've been doing some research online and I understand flipping houses under personal name is not a good idea because of liability if something go wrong. 

don't supply internet, whatever you do. it seems like a nice incentive to provide and get tenants interested if you have a multifamily but the liability is massive. good luck!

Making a residential tenant responsible for repairs, aside from being illegal in some places, makes no sense liability wise.  

There's a difference between protecting yourself from excessive legal liability versus adding escape clauses that allow you to exit the contract at any time, scot free, with all of your money.