Then you will also be able to act on any other opportunities you see and not have to wait to sell one property to buy another.Also if you are going to seriously get into RE investing, open a LLC to protect yourselves and put the properties in the name of the LLC. 

The thought of the LLC was because we want to protect ourselves as best we can.

With you being in a tenant friendly state you have the lower hand, the only way we can protect ourselves is to screen.  99% of the time when someone writes a post would you accept I already say no before reading but read anyway. 

We have not heard from the hotel and conference venue yet specifically, however, we've heard from relatives of some of our team members who are safe and said the damage is less than expected thanks to the floor protection systems installed post-Katrina. 

I once chipped a tub dropping a tiling tool from about 3' because I used the cardboard to try to protect it and didn't tape up moving blankets. :( But I still like it more than fiberglass.

I'm looking to protect my rental with an LLC.

Some people prefer the clog to happen at the toilet, figuring if it is harder for large things to pass, it protects the drain more. 

Business purpose lenders also allow you to protect yourself and your personal assets from lawsuit and other financial risks by allowing you to own the property in an entity versus your personal name. 

Government systems tend to protect the 'little guy', but since there is no other option for dispute resolution in BC, it is what it is. 

Our area of “expertise” is the tread coast however… that being said if you have any questions about a specific property or process please let me know.