The LLC is there for some liability protection.

Once I figured out how to set categories for my income and spending, tags so I could run reports specific to an asset (e.g. seperate tag for each rental property), and set up asset and Liability accounts so I could do a balance sheet, I was able to run detailed income and expense statements and balance sheets and rental property specific reports which have always satisfied my accountants. 

This would be structured as a 90-day maximum (to allow for the lien filing statute to expire or get a release of liability, whichever is sooner) holdback in escrow.

How much is security a concern or liability for you?

Holding it in your personal name is easier and much less expensive, but you'll have the highest liability. 

Also if you supply the materials then you take the liability of getting them delivered on time.

. $800 a year in franchise tax fees is my no means sufficient to buy liability protection from a determined litigant.4) Would you hire an environmental testing company to test the land (to which you have no legal access - but I doubt the dead guy would call the cops on you) once the foreclosure process has progressed well enough, but before it's conclusion, so that you tell the lawyer to stop foreclosure in case some major contamination is discovered?

- Loan Type and Liability: Implications of personal vs.

- Loan Type and Liability: Implications of personal vs.

The answer varies greatly depending on the arrangement of your deal with the owner/landlord but in general you need renters insurance to cover your contents (since you are renter presumably) and then excess liability coverage for your short term rental activities.