Washing your hands of this while you've been paid the full purchase price and the property is lost to tax sale while still in your name is not the correct course of action, imo.

If I had a $500 deductible, then they would've given me back $250 (750 - 500), which is basically the difference between the premium on the 2 policies. 1) $1000 deductible: $700/year premium + $750 in damages = $14502) $500 deductible: $950 year/premium + $750 in damages - $250 from insurance = $1450So basically it's all a wash, but I will usually save money with a higher deductible in the long run (as long as your tenants don't get broken in on!).

I knew coming into this one that it would put me in red, but during tax time it pretty much washes with write offs.

Eddie- my original lender through BMC mortgage (wash fed backed out after granting an LOI) I went to ny local bank in So Texas and convinced them to go out of area for the first time.

If you charge $100 for cleaning and spend $100 for cleaning, it's a wash and shouldn't affect the financial performance of the property, therefore it's just noise.In reality, your cleaning fee should generate income, but it won't be a significant amount.

Okay, let's play this out: Would you not sue a car wash that has wrecked your car just because it's an LLC?