Umbrella coverage is merely additional GL coverage that's only relevant if you exhaust your GL limit coverage.

Quote from @Stacey Matsuda: I attended my first BPCON 2025 and was so overwhelmed, in a good way, but exhausted by the end.

But yes, many first-time offenses (depending on severity) will result in “lesser” discipline rather than an automatic license revocation.

@Megan McclungNon-recourse lendersA Solo 401k is better than an IRA for investing in real estate with leverage since the 401k is exempt from UBIT on leveraged real estate unlike an SDIRA.

You can say something like:“Always use bathroom and kitchen exhaust fans when cooking or showering.”

Exhaust all avenues. 

Dont offer money to move out until ALL roads have been exhausted.

That said you may consider a Solo 401k to contribute 10x more than an IRA annually if there's self employment robust enough and no employees. $50k might be enough to do some PMLs but probably not for the IRA/401k to actually own real estate.

We are much more likely to cause a "nuclear verdict" in our daily driver than an investment property (especially an actively managed property). 

Do you have experience managing similar BUSINESSES - an operation this size is a BUSINESS as much or more than an investment.