If the appearance of being in an LLC prevents one law suit it is well worth the cost but it may not ever prevent a law suit. 

Adequate heating is essential for comfort and to prevent moisture-related issues.3.

Make sure you have a detailed scope of work signed by the contractor to prevent disputes.

I would also consider the possibility of raising the property as well to prevent further flood damage. 

How are they incentivized to prevent move-outs? 

I'm not trying to prevent him from making money as much money as he can, but something seems off with such an arrangement, that primarily results in him effectively keeping 67.5% on most deals.

These forms provide a written confirmation of the terms of the oral rental agreement and help prevent misunderstandings or disputes down the line.By having tenants sign estoppel forms, you can verify important details such as rental amounts, deposit amounts, and any additional agreements or responsibilities.

An experienced realtor can forsee and prevent problems too.  

It's not foolproof but it certainly helps preventing us from getting ripped off.  

The building as a whole needs work also so I'm just trying to figure out if there are any restrictions that'll prevent me from doing rehabs on those vacant units while the other ones are still occupied.