If kids want to play their parents can give them a ball.If you put in the equipment you will have difficulty getting any insurance coverage on your property and if you do it will be very expensive.

Between having minimal liability risk in my own personal activities, renting to only the very best tenants, having excellent independent tenant screening, long time property management relationships, adequate per property insurance coverage and tack on umbrella coverage as/if necessary, I am more than adequately covered.

I understand that we have our own risk tolerances, but it seems impossible for us to invest in rental properties that generate supplemental income because of a low-risk tolerance.Perhaps it's a big picture discussion and there will need to be compromises from both sides but I wanted to see if anyone else has had to educate/convince their spouse of the benefits of rental properties.Thanks for your insight.

I'm a bit skeptical since it doesn't include liability coverage! 

My interest in REI is to at least supplement my retirement pension in the future and to have something of my own to grow. 

Many people who start out in real estate investing and don't have much assets choose to use insurance coverage for asset protection.

You can still be a limited partner with the insurance providing an extra layer of coverage.

Thats for replacement cost coverage.

I am assuming you have a regular homeowners policies which provides coverage if you live in the home.

The New York Property Insurance Underwriting Association (http://www.nypiua.com) should be able to provide limited coverage.