The total cost is not unreasonable, but I am questioning if it's all truly needed.To give you a better idea, he has a few packages available that scale up in price and services:Bronze ($497): Includes LLC formation, a custom operating agreement, and a year of statutory agent service.Silver ($897): Adds the EIN, an LLC operations manual, and some ongoing compliance/task alerts.Gold ($1,397): The most comprehensive package, which includes a revocable living trust to keep our names off public records for privacy/asset protection.The 70+ page estimate came as a surprise, and it makes me question if this is a standard requirement for a new partnership.I'm hoping to get some insight from those of you who have created similar partnerships:1) Is this a normal process?

Honestly, it would be amazing if there was a tool where you could plug in an address and get all this market intelligence in one place… but I haven’t found anything that comprehensive yet.How do you handle the research side?

Hopefully this will help.Proper Insurance: Offers comprehensive coverage specifically tailored for short-term rentals, including replacement cost coverage and robust liability protection.Allstate: Offers HostAdvantage, a home-sharing insurance program designed to supplement existing homeowners policies for short-term rentals.CBIZ: Specializes in vacation rental insurance with wide-ranging coverage, particularly suitable for homes with additional amenities.Foremost Insurance: Known for its comprehensive vacation rental insurance policies, making it a top choice for many property owners.Obie: Stands out for its focus on short-term rentals, offering tailored policies for this specific market.Steadily: Provides vacation rental property insurance that can be customized to fit the unique needs of short-term rental owners.RentalGuardian: Offers specialized short-term rental insurance products, including options for both property and liability coverage.InsuraGuest: Provides technology-driven insurance solutions specifically designed for the hospitality industry, including vacation rentals.

Driving this affordability crunch is the combination of elevated interest rates and soaring home pricesin the post-pandemic boom, although some markets have seen slowing growth in recent months.Click on image to enlargeMeanwhile, the West Coast metros of Los Angeles, San Diego, and San Francisco are the most unaffordable in the U.S. given high demand, supply shortages, and for the latter, proximity to Silicon Valley.Falling near the middle of the pack is Miami, where home prices are 6.4 times the median household income.

Definitely start by talking to a trust attorney and CPA to ensure you have a full comprehension of the types of trusts and what protections/advantages/disadvantages they provide. 

"Survivors frequently suffered the “double victimization” of housing discrimination when landlords evicted or refused to rent to them because of “zero tolerance” policies on disturbing the peace, calls to police or violence committed by a member of the household or guest (whether authorized or not)."

Both single-family and multi-family projects slowed.Minimize imageEdit imageDelete image👉 Why it matters: Inventory isn’t keeping up with household formation.

With that being said, it seems important to discuss what a HO5 policy is and why a DP3 policy for rentals is the right choice.The HO5 is one of the most comprehensive forms of homeowners insurance available.

I would want to see average household incomes north of $75k/yr to support that rental level and leave people space to eat.d) my perception of a small, cheaply built house in a marginal area is you won't see much appreciation, using you $200k new construction example. 

*******************************************************************************This map, via Visual Capitalist's Pallavi Rao, shows the share of households in each state that reported receiving cash public assistance (also known as TANF, Temporary Assistance for Needy Families) or food assistance (also known as SNAP, Supplemental Nutrition Assistance Program) in 2023.Ranked: U.S.