For instance, if a partner let's his kid drive his car and the kid gets into an accident and seriously injures someone, both partners can be sued.

I fell into this whole thing almost by accident.

Also, a boss who asks you to do something illegal won't think twice about throwing you under the bus when there's an accident.2) The next guy I meet who goes from hanging onto a steering wheel one day to full-time real estate investor the next day will be the first one.

How many kids die from bike accidents every year?

Be that as it may, its horrific that there are so many about the country/world that they are in every neighborhood.

Accidents. ...3.

Could be an auto accident headed to court, it is unknown if the owner will be liable.  

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

As I was listening I was like damn I did that by accident haha

Don't go cheap on either.I'd also want to talk to the septic pumping company the seller used to get a history over the last 5-10 years to see if it's been properly maintained.With recreational watercraft, consider liability insurance for accidents or deaths.The other potential zinger I see is flood insurance.