The law gets more complicated with partial ownership and developments but you get the idea.

For now, I will be moving to partner with this investor to acquire this property or future properties to less complicate things.  

It is complicated....current owner owes City $2k if they sell before Nov.  

There are a couple complications for this strategy one is you might be limited to 100K since that is the limit for deductibility of cash-out refis. 

They said they would not issue us general liability/umbrella coverage unless they insured the SFR also.To complicate matters further, I would love to get an umbrella policy that would also cover us for our Christmas tree farm.  

but it's only as complicated as you make it.  

It is simple math so don't over complicate things. 

Like anything in business, it can be complicated, but you CAN learn and understand it.Another (not exclusive, but potentially supplemental) way you can limit the risk is to get an umbrella insurance policy on your properties that will protect you by paying out for covered liabilities in the event your property incurs them.  

Procida is talking about are apples and oranges.. he is describing due diligence on very large complicated projects..

It just overly complicates things for no benefit.