Sure, but again securing $500,000 isn't difficult.That said, liability coverage is lawsuit protection coverage just like it is for you. 

The LLC is there to protect you from liability when doing business by SEPARATING your business from your personal.

.- You will have to come out of pocket for the arears, fees etc, just to get into "contract" some times $20k or more and all you have as protection is the word of someone who's proven to be unreliable and a signed piece of paper... 

Unfortunately Good Cause Eviction passed last night in the city of Rochester, NY.I want to thank Council Members Lashay Harris and Michael Patterson for doing the right thing and voting “NO” on this largely performative legislation…that will only TEMPORARILY protect a small handful of city residents living in EXTREME under market rental units…But it will have broad and adverse negative consequences for the WHOLE community.

They will be more focused on finding a buyer for a deal vs what date the DD ends and EMD is owed to the seller and most likely not be cancelling the contract or extending the DD to protect the lenders EMD funds. 

I've printed out a Notice to Quit and will post it on their door for legal protection.

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

I'm not into Sub2. there is no personal liability protection in a single member LLC.. there is protection if you have unrelated members in your LLC . 

If you do, work to protect it! 

remember, these are NOT conforming loans, so all the consumer protections one might be used to having aren't there.