As everybody else stated review your basic protection with P&C and umbrella coverage and run your rentals like a business, easier said than done.   

------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The person who bought using "Subject To" has no money, no credit, that is why they bought using SubTo per the Guru's loquacious advice, along with 120 C notes they borrowed to take the "course".

On paper, my C rentals have amazing cash flow.

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

.,  C. 

💪Flipping in C-D areas is smart for avoiding long-term headaches, especially when it's not worth the upkeep.

I have been -$300 to -$500 most months owning on C#1 for 2 years.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

Evan Hiller was quoted in the Wall Street Journal article about the Nightingale/Crowdstreet deal debacle:https://www.riggsdavie.com/team/evan-c-hiller