In other words, you keep your personal and business assets separate so that if your business incurs a liability (for example, a judgment against you in a personal injury lawsuit arising from a claim that an unsafe condition at your property caused the injury), your personal assets are insulated from being liquidated to satisfy this judgment.Many RE investors keep each house in a separate LLC.  

-Property and casualty Insurance for the property itself insures you for things like fire and storm damage (this doesn't really have anything to do with getting sued, but is obviously important)-Maximize your liability coverage on your homeowners policy (liability coverage insures you against wrongful death, injury, or scarring of someone on your property).

That said, generally speaking in most states, LLCs and other business entities do not shield you from personal liability if you personally had knowledge of, or were personally engaged in, the conduct that causes an injury.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

You'll also retain liability for any injuries on the property since you're the record owner.FL Bar #86224

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

If the inverse is true, they owe 200K and its worth 300K but they can't make payments because of a loss of job, injury etc, then perhaps a deal could be made that allows them to get some the equity out, and keep a foreclosure off the books.   

LA's mass exodus is in part due to the rampant homeless crisis (which has snowballed significantly in the last 3-5 years). the city did the same thing here, legalized camping and its escalated to levels that are irreversible.

Personal Injury Liability (libel, slander, wrongful entry, etc.)4.

I am looking at two options and want the experience of you to help me decide.Quick Background: Its been over 15 years and prior to a severe back injury I flipped houses, and did around 50 homes over 9 years but I did a majority of the work and they were all within the city where I live.