Some say this asset type is at greater risk of lawsuits.  

Hello, I am looking for some advice before I start reaching out to an attorney. This is full disclosure and will tell my side as best I can without writing a book. 
I am a real estate investor and sold a property ful...

Generally speaking, the people who win lawsuits are those who have the best documentary evidence. 

There's a lot we do to ensure compliance and protect ourselves from lawsuits - from heavy duty insurance policies to video recording in every room and badge locks on the doors, to having an extremely solid legal team (thankfully, we've only ever had to call them to write up deals and fight with the occasional bad contractor).You'd be at risk for anything that happens there that some lawyer (the kind that advertise on TV) could try to pin on the property, especially if you're the only person in the picture worth suing.

There are thousands of lawsuits against HOA's for all kinds of abuses and thefts. 

When I do quiet title actions in California, it's pretty common that there are people or entities that are no longer in existence, so we're not able to serve them with the lawsuit. 

What you pay can be included in the lawsuit, and it may be easier to get that back vs. freezing and rehabilitating your credit and having to try explain that every time you seek credit from now on.  

If you want your own area and space, you could look into either a small multifamily, or a single family with either an ADU or a mother in law suite.

Regardless, then you get into lawsuits and everything else. 

@Leland SmithI would recommend looking if they have any lawsuits filed against them.