Check list for Leasing/Renting home

Asked by Jd Smith, Fairborn, OH Fri Sep 26, 2008

We are looking at the possibility of leasing/renting our house so we can purchase another. Ultimately we'd like to have a lease to buy, so after a year we aren't landlords anymore. In terms of keeping any personal assets out of the mix, is it best to setup an LLC or something of the sort? Since we aren't looking to do this long term, are there insurance options avaiable that will cover us in the event something happens are we get sued?

Owning two houses in this market is gamble enough, the last thing we need is someone to wipe us out completely in the event something goes wrong.

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Keith Sorem, Agent, Glendale, CA
Sun Sep 28, 2008
JD
I think that your expectations seem a little ambitious. Please clarify your goals and needs either in another email or via my Trulia profile.

There are too many questions here for me to respond online. "Owning two houses is a gamble enough" RIGHT!... so you need some professional advice.
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