Non-recourse loans alternatives

[Andrew Lackey]

Hello! I'm new to the investing world, and was wondering about different ways to cover yourself if things go wrong - specifically, if you can't find a tenant, and are unable to pay the loan on a property you haven't paid off yet. I've heard a bit about non-recourse loans, which (if I understand them correctly) save the borrower from financial liability and only take the property as collateral. This supposedly leaves you out of a property, but not stuck in debt

My question is, what other ways are there of safeguarding your investment? And if my information about non-recourse loans is incorrect, please feel free to correct me.