Its a way to ensure that when you get sued and are being found guilty and liable only the assets within that LLC are at risk (but make no mistake you are still personally liable for your personal actions).

It goes up in the local news and you are done for because in the eyes of the neighbors they are guilty.  

Of course, in this great country of ours everyone charged with a crime is innocent until proven guilty in a court of a law.  

Even if I were sued, I document everything and obey the law, so I won't be found guilty.

I”d also argue that the foreclosing lender/law firm may not have had a legal duty to notice you.Often, these things are resolved by lender’s attorney “inter pleading” the funds in court and letting claimants file documents that prove their entitlement.

Even if I were sued, I document everything and obey the law, so I won't be found guilty.

Don't feel guilty because you don't want to buy the extra coverage for $7,200 if you are comfortable coving those claims out of pocket.How many claims have you filed in the last 5 years that would fall under the DP?  

Tenants will try to pull at your heartstrings and plead for compassion. 

I am not a glass half full person, I just like to make prudent decisions when pertaining to the long term.I've definitely been guilty of paralysis of analysis

While asking questions over the phone does eliminate some perspective tenants from viewing the unit, I've found that quite a few will lie (especially about credit), thinking they can use charm/pleading to convince me to make an exception for them.