Protection from lawsuits is a big item to consider as well, especially in higher price range properties. 

It adds extra protection for your assets.

Not sure I would invest in places without such protections as I see this on BP in a lot of places (i.e.

Houfy now has a damage protection plan that costs the guests $5 a night and does light identity screening through SuperHog. 

You might want to study up on the Telephone Consumer Protection Act.

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

This means you can sell, lease, or pass on the property as you see fit, just like any other property owner.Full Ownership RightsYou have the same rights as a Mexican property owner, including the ability to sell, lease, transfer, or mortgage the propertyLegal SecurityThe Bank Trust is a well-established legal mechanism in Mexico, ensuring your investment is secure and protected under Mexican law.Renewable TermsThe trust is set up for 50 years and can be renewed indefinitely, allowing you and future generations to maintain control over the property.Estate PlanningThe trust makes it easier to pass the property on to heirs, simplifying the inheritance process and reducing potential legal complications.Although the process might initially seem complex, it is entirely managed and supervised by a reputable banking entity.

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.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

You can protect yourself with a short contract period.