#272 - Key Legal Considerations When Scaling a Rental Business - Diana Khan

Joining us on this episode of Living Off Rentals is an award-winning attorney, entrepreneur, and mom of three who owns seven businesses—including her own law firm. Diana Khan, named one of the Top 40 Young Lawyers in the country, simplifies the legal side of real estate investing and shares how to structure your business to protect your assets and scale with confidence.  From LLCs to holding companies to personal trusts, she walks through what each one is and what every rental property owner needs to know to grow the right way. Whether you’re buying your first rental or rapidly scaling your portfolio, this episode is packed with legal insight that could save you a lot of money (and headaches) down the line. Enjoy the show! Key Takeaways: [00:00] Introducing Diana Khan and her background [01:45] Her time management as a business owner, attorney, and mom of three children [03:13] Operating her businesses independently [07:04] Best entity set up for rental property owners [14:35] Diana's simple explanation about LLC and personal trust  [17:48] Setting up a trust [20:22] Biggest mistakes for rental property owners [24:51] The process of failure to pay rent [28:26] How do you get a rental license? [37:40] What is an umbrella policy in real estate investing? [43:59] Connect with Diana Khan Guest Links: Website: https://www.dklawmd.com/  Show Links: Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals  Living Off Rentals YouTube Podcast Channel - youtube.com/c/LivingOffRentalsPodcast  Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals  Living Off Rentals Website – https://www.livingoffrentals.com/  Living Off Rentals Instagram – instagram.com/livingoffrentals  Living Off Rentals TikTok – tiktok.com/@livingoffrentals