Also keep in mind that if you are asking the attorney to perform a service for you in a creative transaction that they can assume liability in the transaction and may not be interested in the risk.

We had higher liability coverage too.

I have been working with my Insurance broker for a number of years now, and they are telling me that they are running into difficulty finding a provider that will provide coverage for anything other then liability for this bldg.  

The information on Schedule E ultimately gets carried over to your Form 1040 and is factored into your overall income tax liability".

Business entity structures protect you from "fellow tenants" as well as a lot of liability.

Most brokers don't want anything to do with it because they perceive it to be a liability.

That of course can be very tough as my liabilities have increased due to the home purchase.

Liability, damage etc?  

As mentioned above, you want an emergency number just for the rare flood or burst pipe or broken window emergency to protect the property and from liability.

It just allows either partner to give reasonable notice they desire to leave the partnership then the assets can be divided or sold, liabilities paid/divided.