First of all you want to avoid as much lawsuits by running your business properly.Second line of defense is to have proper liability insurance for most basic challenges.Then to protect yourself from ambulance chasers working on contingency, you want not to look as a deep pocket target: you can use anonymity in your structures (anonymous LLC, land trusts,...) , and also use some equity stripping by having big mortgage on the property to make them look less worthy.You also want to use some federal or state protection like ERISA retirement plans, life insurance, homestead, etc...Last you want to insulate your assets from each other to limit the risk to only one of them at a time.

@Matt Whitermore @Bob Obear @Marin Ivankovic @James Rolf @Joe SplitrockI am fortunate enough to say that I received approval on Part 3 of my application.

Also worth considering is cashflow is defense against market dips.Do you already have some rentals in the area?

@James DavidsonAssuming that you have been impacted by the virus in one of the enumerated ways and therefore qualify, you can take a penalty-free distribution (as well as waive the 20% withholding requirement) from your 401k (assuming that the employer allows it) anytime between 1/1/2020 and 12/31/2020.

Hi @Alleia James, I love Chicago suburbs.

She also is the most patient and nicest (maybe too nice) tenant I've ever had, as much as she complains to me, she tells me not to say anything to the disgusting tenant and that she will just take care of stuff in the common area but I've went ahead on a few occasions told my disgusting tenant of the concerns.I'm hoping, since a lawyer wrote his notice of non-renewal letter and I served him over 3 months ago, that after eviction court re-opens, he has no legal defense for being a holdover tenant and that it is inevitable that he gets evicted and has to pay my attorney fees as well.Unfortunately for me, my disgusting tenant does more than collect trash in his room, despite being retired and at home 24-7, it is my understanding, he doesn't bathe nor ever wash his clothes so he'd probably need more than a housekeeper but the clause you mentioned couldn't hurt for me for the future.

@James McRee - thanks for the feedback.

If it is not explicitly mentioned in your state tenant laws, you can do whatever you like - but with the knowledge that it should be defensible if you ever have to defend it.

First, @James York, take inventory of where you have experience and/or connections.

@James Lord My grandpa was on the chemical engineering team that patented these!