I have seen some lawsuits filed against property owners if they provided or left booze.

With the corporation route, you are required to have an accountant and file corporation tax reporting each month regardless of income or not.

This was great since 2020 (which is the tax year that I just filed my taxes in October this year AND when I bought the property) was the highest income grossing year for me and I needed as much write off as possible. 

They were scheduled to close escrow in a couple days only to discover the seller has a lien on the property for a debt that should've been removed in their bankruptcy 5 years ago.

I file jointly with my wife. 

If not, what does the Plaintiff allege in the Complaint filed?

If the tenant doesn't pay any outstanding items above the security deposit we file a judgement for the balance.

A C -Corp or Partnership must file separate returns from yours.

Great Depression. market disruptions. a trillion dollars a year deficit spending. rumors. panics. personal bankruptcy. a lot of other unexpecteds. 

This will also be my second time filing my taxes, so it’s already a challenge.