Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

You will need 20-25% down and a commercial loan for the rest.Most lenders will want to lend to an LLC with you personally guaranteeing the loan.Typically, each MFR would be purchased under its own LLC, for liability purposes.Each LLC would then also need its own bank accounts for collecting rents and paying expenses.

So essentially you can only put half of the property into the LLC, which might work for tax purposes (sort of), but doesn't work for liability at all since you can't usually put half of a duplex into an LLC as a separate asset.I do recommend that you keep a separate checking account just for housing expenses because it will really help you come tax time.  

In regards to Series LLCs and states that recognize them or not, the issue comes down to each specific state recognizing the "internal liability shield."

Seems rental is now liability rather than asset with equity.Looking for suggestions and recommendations for situation and investing strategies.

Liability Insurance?

The Code is not to be used by anyone other than RMAI and may not be used as a basis for civil liability as their sole purpose is to designate appropriate behavior within a membership organization.

If you are using a property manager, the burden - and much of the liability - usually falls upon them.  

The HOA offers enough protection for the unit itself and Airbnb claims to offer $1m liability protection.

I still believe he’s better off with someone licensed in that seat to avoid any potential fair housing or other liability issues that can occur.