Recently a few friends have suggested that I invest some money into the basics such as new plumbing and some cosmetic work so that I can at least market it for a higher price, however, I am hesitant to do this as I am not sure if anyone will buy once the updates are completed.

They total upto $1.5 million of rental assets.How do I do asset protection against any lawsuits, especially in a tenant-friendly state like California.Actions Taken:- I have broken them down to 2 LLCs (3 properties in one LLC, and 2 in another).- I have Umbrella policy of $2 million.Ideally, I'd like to have 1 LLC per property but California LLC are one of the most expensive in the country.Can really use your help and inputs!

Business partner(s) can be friends/family members/spouse if you keep things as seperate properties/or through other connections? 

One of my friends did that.

Thanks BP friends!

Is the boy friend or the tenant in a protected class?

If you are worth say 300k and taking a big chance with a good amount of money down then stay away from the low income areas and pricing. 6 to 7 years ago my friends were buying properties for 55k cash in Roswell in A location and putting 10k in to make rent ready for 900 a month rent.

Hey folks,I live in Seattle and therefore am not looking to buy any rental real estate locally. For that reason, I've mostly been doing my research in out-of-state areas like Pittsburgh or The Triangle in North Caroli...

My wife’s best friend owns a couple weeks in Kauai and talks about how awesome it is.

Also, that "mentor" will probably be more like a good friend than anything.Think of it in terms of dating.