There are thousands of pages on consumer protection laws and regulations that depending how you go about doing a subject to could be against these laws and regulations. so like most things - is itillegal - it depends.  

We go above and beyond when it comes to protection.. starting with insurance coverage, sings in the listing and in the property that there is no guard on duty (as silly as that sounds), putting extra locking device high enough so youngsters can't reach, an alarm/beep system to alert them that door opens for those with small children (or elderly) so they cannot wander out in the backyard with no one noticing and risk drowning.

Asset Protection Trusts don't protect assets?  

In the NE states, AKA tenant friendly states, I would always have a PM to help protect my interests.

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

Because it allows you to "harvest" the accumulated gain or loss for tax purposes while still holding the investment.

You certainly want to vet your property manager to ensure they are focused on balancing asset protection with tenant satisfaction.

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

It’s worth researching to see if this might be a good fit for your situation.Lease Structure and Clauses: Work with an attorney to draft a lease with strong clauses for late fees, maintenance responsibilities, and other terms to protect your interests.Target Stable Tenant Profiles: While no tenant is risk-free, targeting tenant pools that historically have more stability (e.g., retirees, dual-income households, or tenants relocating for work) may reduce risk.Stay Up to Date on Landlord-Tenant Laws: Understanding your rights and obligations can help you navigate issues more effectively if they arise.That said, if the potential risks are keeping you up at night and the financial pressure of an eviction would be too much, selling may still be the best option for peace of mind.

They are designed to protect the seller (I have disclosed this), but not to substitute an inspection by the buyer.Sellers can only disclose what they have knowledge of.