I plan on obtaining copies of the certificates for worker's comp for all employees but am always interested in knowing what/how to prevent mishaps.

Do partial releases with each draw, that prevents surprises at the end (you owe the gc $5k on his final draw, and you have subs that are owed $10k).  

Holding your primary residence in an LLC would likely have significant unfavorable tax consequences by preventing you from utilizing the $500k home sales exclusion available to married couples for capital gains realized on the sale of their primary residence as well as any homestead exemption that may be available to you in your state.

It takes time to get your license which prevents you from getting started.

The door armor is the biggest thing - between labor and materials it costs me about $150/door, but the most common burglery/robbery access in these neighborhoods is to simply kick the door in, and this prevents that.In general, neighbors who take care of their own homes are really glad to see a property renovated and taken care of, rather than have it taken over by someone who's going to let it go to ****.

Plan for flexibility for when your life changes (more kids, bigger business, a new partner bring you into a new venture, parents become dependent, divorce, new spouse with kids in tow) or the biggest change - declining health.Keep in mind that NOTHING prevents you from owning more than one insurance policy ... perhaps a term policy AND a cash value policy.Good luck and be thankful that you are exploring this topic early in your life.

Hi all, I'm in the process of purchasing a property in Mesquite and the termite inspector recommended removing a dead tree stump up against the foundation as a preventative measure.My question is, should I remove it?

What precautions would you say to use to prevent such a scam to a newbie?

I plan on making 30k my max loan value, to prevent over leverage.

Or do the economics of those properties over the long-term prevent a property management fee from penciling out?