Is this true?

Any tips from you savvy folks?

What’s also true is that you can deduct expenses and even depreciation on this same % and subtract the first $1000 before calculating the UBIT.  

I ask this question because there are many markets that are growing in population and want to be a step ahead.

It is currently an abandoned cafe about 25 min from greenville, and I would love to fix it up and get it back in business.

This includes (but not limited to):-Quiet Hours-What spaces can and cannot be used-Guest policy (make sure to limit days in a row and in a month)-Pet policy (even if you don't allow pets, if someone has an ESA animal, it would be good to have guidelines in the event they surprise you with one, otherwise you are SOL and of course take into consideration fair housing laws)-How is trash put in the cans (in bags, not just thrown in) and when can trash cans be taken to the street and put back-How is the late free structured (one time flat fee or a daily fee)2.

The property is in Pell City, AL and I was able to find this is a non-judicial state and potentially would not be tied up as much unlike a judicial process since it’s not going through the courts.ThanksDaria 

Quote from @Fabiola Noel: I didn't know any software included a bank account.

I’m from the Orange County, NY area.  

I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy.