If you own a rental or two and can't sleep worrying about someone suing you then you might look elsewhere than any real estate investment.That said you can add many layers of protection.Individual LLC's for each property help by a master LLC held by a Trust etc to give you layers of protection.Insurance is your first line of defence, an umbrella adds another.Having properties mortgaged makes them uninviting to an attorney that may want to see if you have any assets worth taking.You can consult a Estate planning attorney for guidance on different strategies.If you are risk adverse you might want to look else where to invest your money.

If you are risk adverse real estate, (especially out of state) is not for you.

I’ve successfully flipped a couple houses partnering with my mom, but she is now retired finds herself too risk-adverse to use a HELOC as we did in the past, and truthfully she is quite content with her retirement financial situation.Which leads me to now.

@Wayne Brooks Actually I am an attorney... just not in TX or FL.Once the buyer and the title company become aware of the adverse claim (thereby eliminating the bona fide purchaser defense) I doubt the sale moves forward without either the blessing of all parties (tenant joining in execution of the deed) or a final disposition of an action filed in an appropriate court.

However, there's a real chance I may only be in the area for another 4-5 years and I don't want to adversely affect the value of the house when it comes time to sell. 

.$12,000 for singles.This seemingly benign change can adversely affect vacation-home owners, because their allowable itemized deductions (including those for vacation home mortgage interest and property taxes) may not exceed their standard deduction amount for 2018-2025.And in Hawaii… Short term vacation rentals come with an additional tax burden of 10.25% in Hawaii, the Transient Accommodations Tax (TAT).

-If the property is truly abandoned, and you do take it over and manage it as your own, you would eventually want to acquire it through the Florida law of Adverse Possession. 

Federal, State, and Local Government....so that existing homes in bad condition will not adversely affect property values of newly rehabbed and newly built homes, while simultaneously making the existing residents part of the growth of their community.Also there should be measures put in place to protect existing residents who cannot afford increases in property taxes, such as the establishment of Community Land trust.REVITALIZATION DOES NOT EQUAL GENTRIFICATION.

For example; based on the information provided paying $150K for a SFR-Rental with $1,500 a month rental income translates into overpaying for the property by $24K, and that will adversely affect your after expenses cash-flow and your ability to come out ahead regardless of how you choose to purchase the property.It is important to understand that there is a difference between how the market and banks value real estate and how qualified investors value real estate (commonly referred to as cash-value).

Adverse possession by paying back taxes, filling affidavit, waiting the requisite number of years (paying the taxes those years too), then filing a suit against the unknown heirs.Spend the time/money to track down ANY heir, get contract to buy, open probate, get determination of heirship order, close normally (paying taxes out of purchase price).Okay, so let me make sure I'm not confused.