General liability only covers personal injury, bodily injury and property damage, not the existing building.  

The subdivision goes from 150k to 1 million in price.If your friend owns other properties that are trophies I would definitely cross-collateralize some or all of his other properties and get a personal guarantee.

This question is more personal.

That last one will be the hardest for me, I am not usually a social person.

The tangible nature of property investment, coupled with the potential for rental income and capital appreciation, offers a balanced risk-reward ratio.

I would keep receipts on whatever it costs you to clean up and remove personal items and then deduct that from the tenant's security deposit.

I personally would not do it unless your getting a really good return on the investment.

I actively pursued personal growth by enrolling in college and graduating with a Bachelor's degree in Criminal Justice from Southern New Hampshire University (January 2025).

I've also personally owned two multi-family properties in the city.

It's a thrilling and rewarding world, but it can also be overwhelming for newcomers.