If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

And when it comes unraveled, implications CAN BE extreme, INCLUDING jail/prison time for it. 

We want her to live with us so she's more active and social, but our current house isn't suitable.

Please DM me - I can give some pointers on how to get started including in the Multifamily space.

Just to make sure we’re both on the same page, I’m referring to the annualized total return that is included in the bigger pockets rental calculator — I wasn’t intending to compare RE to stocks, but maybe I’m missing something in your answer.  

The build process to include funding can be quite lengthy and difficult. 

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

I learned so much along the way, including navigating the legal process needed to remove previous owners (squatters) who did not want to leave.

This means building a budget that includes setting aside funds for your next investment.