It protects both you and the tenant, ensuring their personal belongings are covered in case of accidents.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Smokers are not considered a "protected class" (ie: race/gender/age/etc).The lease the tenant signed prior to us acquiring the property says nothing about smoking either way.  

Good to know about bigger buildings and more amenities having more rules, that makes total sense to protect the full time residents.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

The plain language of the statute, the legislative history, and our state's important policy of providing protection for low-income tenants all support the conclusion that the statute encompasses Section 8 vouchers.

Forming an LLC offers liability protection and clarifies ownership, but it’s usually best to establish it in the state where you're buying property to avoid tax complications. 

I like using Maggie Norton over at REAL PROTECT. 

I would say personal asset protection is #1 but lower cost is a strong #2.   

And behind the umbrella policy can be a complex web of corporations, LLCs, and trusts to protect you.Asset protection can get very complicated.