Obviously each position requires different skills and have different advantages i.e. compensation. 

Are there any advantages of umbrella policy over the liability insurance? 

The obvious advantage would be to avoid being taxed on earned income which you would otherwise be 1099'd for at the end of the year as an agent.

I would suggest working with a tax professional so that you take advantage of deducting all the applicable expenses.

I would be open to other markets like Jacksonville, FL and Columbus, OH also.One advantage i do see with single families and duplexes, tris and quands is that they are more liquid.

The guest house was actually a 5 car garage that he converted into a house.Anyway, yes, I think my wife wants to stay but I know if we had an offer she would at least weigh out the options.The true capitalist in me would take advantage of the opportunity, reinvest the 500K and buy another 400K house with 5% down.

I haven't come across renting to a non cooperative lawyer who uses the landlord/tenant law to their advantage.

One of my RE strategies has been to flip my own personal residence, taking advantage of the IRS no cap gains up to $500K at the 2Y mark.

Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

@Stephen Zipp  not everyone takes advantage of partnering with someone on their first deal.