I assume that all means it's a single-family house with a basement to begin with and that "sever the house" means to divide the single-family into a duplex.You refer to this as "my rental property" and this is your first post.

My last post was for @Charlie Hardage, NOT @Mark H.

Also, people become spiteful about paying taxes when its sometimes cheaper to pay the tax -- already had a real life example with another person's post. 

Originally posted by @Jake Hottenrott:@Eran Withana - Look for value and not at the price. 

We see plenty of posts of people trying to get around "doing it right" with a LLC. 

Hey @Cory Ray, Given we are accountants, we cannot promote our services on BP as its against the rules.

Title on your post is personal finance?

Your mentor has needs; try to meet them and develop a mutually beneficial relationship.A mentor can benefit your growth, but it's not as simple as one post on a forum full of strangers.

And, my sense from your post, is that you are looking at a single RE syndication. 

Maybe the landowner would consider you posting performance bond aka a surety bond in lieu of getting an insurance policy.