These items cause far more routine damage than tornadoes and insurance rarely covers the small, preventable issues as the cost is typically below your deductible.

The nice thing is that Land Trusts are often much cheaper to setup, have no annual fee (they are not filed with the state), and don't even need to have their own bank accounts (all banking/accounting can be done at the FL LLC level).The idea behind separate entities for each property, be it cells, land trusts (FL), or LLCs, is to silo off the assets from each other to prevent one assets liabilities from exposing other assets, thereby minimizing the amount of exposure that you have to a single lawsuit or incident.Note: This information is foreducational and informational purposes only and does not constitute legal,tax, or financial advice.

Proper Preparation Prevents Pizz Poor Performance. 

The goal is to identify the risks specific to your situation and proactively put systems in place to prevent those issues from occurring in the first place.I've posted extensively on this subject, feel free to review some of my older forum posts. 

Clear communication upfront and practical solutions for hauling will help prevent issues down the line.

This could have been prevented by looking for an NMLS license.

Disabling instant booking or setting stricter criteria for guests could help prevent similar issues in the future.

Combine that with what @Stuart Udis said: many investors focus on preparing for the liability event while mismanaging the property - focus should be on prevention in the first place.1.)

Hello guys the BP greatest teams  Quick question For all of you guys,the most experienced players.

The "Rules and Policies" helps differentiate those minor livability items from the preventative calls you actually want to encourage.A clear, written policy upfront manages expectations for both parties and is the best way I've found to deal with a "needy" tenant without sacrificing responsiveness for the good ones.As a quick disclaimer, I'm not an attorney, so please check with a legal professional to ensure any policies are compliant with your State landlord-tenant law.