Quote from @David Robert: Quote from @Jaycee Greene: Quote from @David Robert: I recently became aware of a very cheap property (roughly half of after repair value) and upon looking at it in person I found out why it was so cheap: there is severe cigarette damage throughout the 1st floor (basement less so, but not entirely without damage); there is visible dripping tar on every wall and the smell is awful.

Hi George, for liability coverage during a flip, consider a Builder's Risk policy for property damage, and a General Liability policy for third-party injuries or property damage.

For example, if you set up a Wyoming LLC to hold real estate in Oregon and properly respect these boundaries, the LLC should shield you from a lawsuit brought by a tenant, such as a claim stemming from an injury on the property.

The trades didn't pay as well back then so after high school I got an associate of liberal arts ( auto repair ase certification) then continued learn in ng took hydraulic system repair and building pumps included and until an injury in2003 was a journey iron working doing structural installing commercial doors where they originally were not designed to be .always running my own side home repair business and taking any chance to learn anything new or a better way to do things because I feel if you aren't moving forward you are  stagnating .I wanted to just say thank you for accepting me and I am grateful for any and all recommendations,tips or critiques as I strive to become the best version of myself I can .

I've made about $140k the last two years between my full-time job and some personal injury cases I've settled.

Dog Bites from a Tenant’s Dog – Many landlord policies exclude liability for injuries caused by a tenant’s dog, especially if it is considered a restricted breed.

It is a quick way to bankruptcy, especially if there is a guest injury, even if they are negligent and not fault of yours.Having the correct insurance to cover not only damage but guest injuries is why you have commercial STR insurance.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

My business partner and I just opened up our property managment company in the Chicago/Chicagoland area and it is not easy to do this the "right way".Honestly you can get yourself into some serious trouble if something happened with a tenant, an injury, anything and they sue and find out you don't have a license.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.