Focus on performing your day to day operations in a manner that will reduce the risk of claims in the first places such as hiring reputable service providers, sign contracts each time you engage a 3rd party vendor & collect insurance certificates where you are listed as additional insured from everyone who performs work on a property you own or provides a service related to a property you own.

Any help that you can provide will be greatly appreciated.

The most common strategy is to use the existing equity to put into another downpayment and buy another property - this provides an effective use of leverage as you are expanding your portfolio.

You need a specialty provider firm specializing in these types of account to set up IRS-compliant plan for you.Solo 401k plan is not for everyone, you must be eligible in order to establish one.

After being laid off for the 2nd time in 5 years, I started looking at ways to stop relying on a W2 to provide for my financial future.

With all of this, get really specific about what you are wanting to provide in terms of a resource.

The current company I work for provides both renovation/make ready as well as management services.

The special assessment seems high in general, so which building it is would help provide some insight into why and what you gain from it etc.

Based on the information you provided, I'm operating under the assumption that you have a single-member LLC whose activity is reported on Schedule C of your personal income tax return.I hope that helps and best of luck with your rental property!

Every state and city has different rules.If we had a signed lease with a move-in date, we would have charged rent from that move-in date.