How to protect yourself when free and clear

[Mel Rosario]

Hi all,

I'm in that phase where I want to start paying off my properties and live off the rent. Most properties are in California. When I fully pay off the properties, I may be free and clear but piece of mind? what happens if a tenant wants to sue me for something? how do I protect the asset? they are already in an LLC , try not to commingle the money? Just some opinions since I'm new to this phase.

should I leave it and risk it

Get better insurance, will renters insurance cover

Put a line of credit on it

Refinance take money out and invest somewhere else.leave enough in so it will cash flow, prob won’t have as much in retirement if I do this

my overall plan is to live off the rent and pass them on to my children and continue what I have done

thanks