Steven, thank you for your reply. i have read that the state where the LLC is domiciled laws are what takes precedent over say california law in the case of a lawsuit. ill have to look that back up again but i believe that is correct. if you are correct it would make no sense for me to form my LLC in another state.

I just learned a lot in a law suit about 30 years ago.

As i hear in a lawsuit wyoming law would hold precedent over california law.

,Someone would list both the owners of the LLC and the LLC in a lawsuit as it was negligence of that member.

If the LLC has ever been involved in a lawsuit, the lawsuit is a matter of public record and you can get information about the owners from the lawsuit....

Liability insurance is like paying to defend yourself because the insurance co that is insuring you will be sure to attempt defend you rather then pay out a settlement that they the insurance co must cough up in the event of a law suit like a person falling on the steps.

PS I would not try to do this transaction and then A Lease back option, = Lawsuit waiting to happen.

I was told that gave me some protection in case of a lawsuit, etc.

If the muni is aware of property with broken glass or mold or broken stairs or any kind of problem that could cause injury, they have to call it out in order to protect themselves in case of a lawsuit.

I read an article written by an attorney that suggested starting a separate management company to provide another layer of protection in the event of a lawsuit.