This seemed like a possible solution for me and was wondering if anyone else has this policy. 

But you’ve set some benchmarks in terms of reserves that I will certainly be aiming for.

What brilliant politician came up with those laws......I'm with Ned in the sense I'd love to hear more about recovering damage costs (or recovering from a tenant leaving mid-lease), for folks who don't take security deposits.Heck, I'd just like to hear how many landlords / RE investors are moving toward a "no security deposit" policy? 

Hi - I'm looking for advice - and shared experiences (good and bad) - on how to set up a partnership with one other person to pursue purchasing and managing properties - SFH and Duplex - in a small town aimed at student rentals.I'm new to real estate investing, and interested this specific market which is out of state (I'm based in Brooklyn).   

Mr Charles please forgive me.That was not at all aimed at you.

For a military veteran who's a new investor looking to purchase their first multifamily property to house-hack, does it make more sense to just get an umbrella insurance policy with VA financing (since you have to purchase in your name) or create an LLC using any other type of financing? 

@Michael Stokes No, I don't have luxury cabins, I aim for middle-of-the-road while still being nice (solidly B-class, to use LTR parlance), and my target demographic is couples, so mine are all small.  

The unscrupulous investor will:Have the homeowner sign a Quit Claim Deed in which the homeowner signs over their ownership in the property.Fail to explain to the homeowner that they, the homeowner, are still responsible for the mortgage.Fail to warn the homeowner that they could be violating their “due on sale clause” with their lender.The homeowner is usually elderly or part of an at-risk population (English isn’t their first language, disability of some kind, etc.).The Division advises the following when it comes to these types of rescue transactions:Don’t sign any documents or a deed to anyone until you have had a chance to talk with your lender and an attorney about your mortgage obligations and your legal rights.Colorado has a Foreclosure Protection Act that affords you certain rights when you are financially distressed.It’s best to take proactive steps when you first start having financial problems, and here are some resources that you can contact:Colorado Housing Connects – Colorado Foreclosure Hotline – Colorado Bar Association “Find-a-Lawyer” – Colorado Legal Services – Disability Law Colorado (Formerly The Legal Center for People with Disabilities and Older People) –  Subscriber Services:Manage Subscriber Preferences | Help POWERED BY Privacy Policy

It’s possible, but walk into this with the assumption that a) it might not Be worth the hassle, get an umbrella insurance policy b) refinance all your properties first with a lender w/o a due on sale clause, then QCD them to your LLCA good umbrella policy can be a lot easier then transferring deeds, and can have the same protections. 

I've also read about umbrella policies but wasn't sure about the following:1) I don't have auto insurance (i don't drive), so wasn't sure if this would affect that.