Too much personal debt and too little income with too many expenses, after an unexpected ER visit or job loss, is an accident waiting to happen. 

If the tenant has a cooking accident and ruins the hardwood floors, countertops and glass cook top, who will pay?  

Hasn't happened since before the dawn of civilization, and probably won't - until it does.Haven't had major car accident since 1983.

@Robert Herrera Ok got it, so I understand why separate LLC for rentals but flips is it so if there is an accident and someone gets hurt like a worker during the renovation they can go after the LLC not our personal assets?

I believe it was an accident, though! 

I have few follow up questions –On insurance – I will confirm that they have insurance in case they screw something up accidently on the site then the damages are covered.

Laminate is a excellent floor as well but is a little sensitive to water like a fog accidents in the same area and walking in with snow covered shoes.

When I found BP (by accident) I immediately began using the Forum Search feature.

If you got into a horrible accident, God forbid, and you could never work again, what will be better for you?  

This is my first post, so I thought I would start by giving a summary of what my wife and I have done to date:We pretty much got started investing by accident.