To address potential future problems, wouldn't a homeowner's policy and/or home protection plan cover any occurrences?

Asset protection.

@Avi Lah the PMC's alleged liability is immaterial as it does NOT protect the owner.An owner must sue their PMC and prove their liability.

My very limited understanding is that the mortgage being in your individual name and you operating the property through a single-member LLC makes piercing the corporate veil fairly easy and that insurance coverage is typically a better protection plan.

An LLC will do nothing for you such as providing asset protection and shielding you from lawsuits.

With several hiking trails/boats/kayaks/bicycles/etc, and just nature in general, what do most people do protect themselves from potential issues?

Quick summary: A Phase I ESA gives you the "Innocent Landowner Defense" protection under federal Superfund regulations.

I've read about the importance of landlord insurance in protecting against potential risks, but I'm unsure about the specifics of what I need and which providers are best.I would appreciate any advice or recommendations on the following:1.

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.

Be careful with these transactions and get advise from a knowledgeable real estate attorney who works with these to make sure all steps are taken to property protect yourself.