When the contract fell through, I recognized the property's potential and stepped in to purchase it directly.

When the contract fell through, I recognized the property's potential and stepped in to purchase it directly.

Let's say someone was bungee jumping off a balcony railing and the railing broke and they fell, injuring themselves.They could sue the property (ownership LLC) because the railing was "not secure".They could sue the manager (management LLC) for not ensuring the railing was secure.They probably will sue both and let the court sort it out.I don't see how 1% ownership of one LLC to another prevents any of the above from happening.

While that is probably true, it would also wash out the grocery store where his food comes from and the neighborhood would look like  I have been in many quakes including the big one the Loma Preita one  what killed people was the freeway double decker collapsing on the bottom deck and one guy fell through the Bay Bridge when part of that deck came lose .

I fell in love with this area as an investor and am moving there soon!

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

In addition, the property tax rate is reasonable but the valuation was going up faster than the ADR then the hurricanes hit and values fell.  

One deal fell through during a sale so i stuck it out.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

The owner went on the roof using a ladder and took a couple of wacks at the chimney with a sledgehammer and big chunks of brick, morter and clay flue fell down on the roof and damaged the roofing, and rolled off into the yard where the boys broke it up.The put in wheelbarrow and took it to a pickup truck which squatted heavily when filled with bricks.