Medical Payments (covers medical costs of an accident on the property)There are many endorsements available and you should discuss the coverage with a qualified Independent Agent (they represent multiple companies).An Umbrella policy provides an Liability Limit that can provide coverage if a claim exhausts the limits of your Homeowners, Auto, Boat, motorcycle, etc. policies.   

@Taylor GardnerDespite ubiquitous advertisements claiming that real estate investing is an easy way to wealth, it is, in fact, a challenging business requiring expertise, planning, and focus.In addition, because the business revolves around people, investors benefit in the long run by operating with integrity and showing respect to associates and clients.

I use analysis, logic, math, common sense to prove a point or validate a claim.

When they control the listing much of what they're charging is obfuscated to you, so they can use that to shift the cost of your place out of the nightly rate and into fees (booking fee, heating fee, etc) that they take 100% of rather than the 15% or whatever they are claiming they take from your "revenue".But ultimately, the one thing most people overlook is how hard it is to move on. 

I claim all my income, deduct all my expenses, work with an accountant, and pay my taxes.

Claiming that his wife (co-owner) lives there all utilities under her name. 

I believe getting out by year 4 has a lot more to do with the IRS requiring you to show a profit for 2 out of every 5 years, otherwise, the business is classified as a hobby and you cannot claim expenses on your return than with being "tired".

My mom quit claimed our family home to me, giving herself and her partner lifetime use with myself as remainderman.

I know it needs to be placed into service in the year you claim accelerated depreciation.

To throw out the idea of using an entity to protect yourself because of some claim that it only works 50% of the time is dangerous imo.