Key issue is to protect your family.

I am very confused what a 401k trust is because I don't see it listed in the types of available trusts below.https://wyomingllcattorney.com/Wyoming-Asset-Protection-Trus...I know land trusts don't offer liability protection if the tenant sues the trust's beneficiary.

It helps you establish one economic unit to meet material participation hours.If you are in higher income tax brackets, I suggest getting a multi-member LLC for audit protection.

If you have the mortgage in you name, would the LLC provide any protection against a lawsuit?

A year ago my asset protection cost doubled over night.  

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.

The one strategy that works to get the beneficial financing options available through using a Fannie/Freddie type of loan while also getting the liability protection of an LLC is by the use of Land Trusts.

I'm not saying to invest in El Salvador (I haven't researched it enough) but I think property rights need to be protected in two ways; from arbitrary government abuse, but also from rampant criminality. 

In many cases right now, I am pleased if the operator stops distributions in order to build up reserves and protect the asset - as long as they are sharing the reasons behind it.  

My recommendation is to protect that rental investment when you do find one, and hire a professional property management company!