There are Lease requirements, Insurance requirements, etc. that you need to incorporate to protect yourself.

Texas is little more challenging I have heard because of the homestead protections and I have heard some title companies will not do bridge loans in TX because of it.

A good painter can Spray pretty good if he has the proper tip , good quality paint, and at least 100 jobs done prior to yours.So many factors involved,  are you protecting the flooring,  changing colors a lot lots of repairs done prior?

They claim this is to protect the tenant.

An umbrella policy is designed to cover excess liability so they always want to see an underlying policy for protection. 

This new regulation aims to increase transparency in the real estate market and protect buyers from potential issues with recently renovated properties.As a fix and flip investor in California, I'm curious to know how this new legislation is affecting your strategies and operations.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

If yes to invest in NY, what would be the recommendation criteria that I can implement to protect me to some degree.

An LLC is useful for two things: anonymity and legal protection.

But if you decide you are going to permit it, you need to have a contract drafted that protects you in case he is negligent or doesn't comply with the terms of the agreement.