In the case of my secondary mortgage, we do some private lending on occasion, and used that format including a promissory note, recorded mtg, etc to secure the remaining balance.

There are still those that pop up on occasion.

It happens on occasion, but not frequently enough to run a viable flipping business if that's your goal.

Luckily, during this post we learned to keep assets in your dashboard for just such occasions.

My Personal concern would be having ample cash reserves when you are done with the rehab.  2 units will eat cash on occasion, be ready.  

On the occasion that you do all mentioned are great ways to protect assets but any good attorney will find a way to pierce the corporate veil. 

But I wouldn't anyway, because I have a generator that I use for these kind of occasions;) 

@Tyler DeuelI have used Al Mendillo from Home Inspections LLC on several occasions alreadyI found him to be very helpful and thorough.If you are still looking, message me and I'll send you his email address.

Could we on occasion find a tenant on our own? 

I wonder if there is an inexpensive way to protect the portfolio from very rare occasions.