Cardinal Insurance Group is a local family owned agency that can most definitely help with protecting your investment property.

. $800 a year in franchise tax fees is my no means sufficient to buy liability protection from a determined litigant.4) Would you hire an environmental testing company to test the land (to which you have no legal access - but I doubt the dead guy would call the cops on you) once the foreclosure process has progressed well enough, but before it's conclusion, so that you tell the lawyer to stop foreclosure in case some major contamination is discovered?

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

Also for Philadelphia owners, is there anything I can do to add protections for myself since this city is heavily tenant favored?

Contracts will protect both of you.

Luckily it is easy to spot under some scrutiny.Most people here just use Airbnb and VRBO and they collect and remit the payments for you so you are protected, but something to consider watching out for.

A performance deed is a real thing and would provide you with the protection you desire.

I also know that in many cases the llc will protect my personal assets and I fully believe this is either analysis paralysis or just fear of failure. 

I would also like to protect my identity and I am filing a Wyoming LLC to manage a Texas LLC.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.