@Beth Chang A 1031 Exchange can be a very powerful tool for someone who is interested in growing their wealth through real estate.

If I’m paying the power then the lodger could run up double the normal power usage since they don’t care.Just my thoughts.

This is a limiting belief you have about yourself that you need to get over. 

Accept nothing less.Gurl power!!

Compared to an IRA, Solo 401k contribution limits are roughly 10 times higher and there is no custodial requirement for the 401k.

Or the court order considered a powerful legal document?

However, insurance is limited because it only protects you from one type of liability: accidents/negligence.

LOL,No worries, the power of email directly to the Clerk of Courts "Elected Official" got me an apology, answers and Affidavits recorded for $0.00.

In my opinion, the time you make that decision is when the income from real estate replaces or over powers your regular income from a current job.

Liability risk management for me involves an "onion layered" approach.Layer 1: Know the law, follow the law.Layer 2: Respond promptly and professionally to legitimate repair requests.Layer 3: Properties held in Limited Liability CompanyLayer 4: Carry adequate liability insurance.