If the tenants has tenant insurance and the injury isn't a major one (like maybe 10k will make the problem go away), then the tenant insurance will deal with it.For the most part, though, what it protects you from is tenants who want to sue you because their clothes stored in the basement got moldy

I am a currently a creative director at a clothing company but am hoping to eventually transition into full time REI. 

So many kids and adults even live above their means trying to have the coolest car or nicest clothes.

Make sure to put in any and all things you don't want, loud noises, smoking, dishes, and when and how to wash and dry clothes.

plus the reason i would never recommend rents under 750 is this math.your simply not generating enough gross revenue to sustain these properties.. and on top of that if you have a 600 rent PM is going to qualify them at 1800 a month.. subtract 600 for rent.. 200 to 300 for uitls and cell phone.. and you have someone living on less than 250 a week.. for food clothing insurance car etc etc... now can you live on less than 250 a week ????

While you may earn $$$$$ as part of your work, if you work long hours, have a long commute, posture with expensive clothes, your true earnings are less, $$$ or $$.So it's important to keep your relationship with money in the back of your mind in all your ventures.

Many are wolves in sheep clothing.

Location will be critical.Older shopping centers or strip centers in great locations are being refaced and the parking lots redone to make them pop again.National tenants have a rep to uphold and have to get a certain look and feel for their image going in versus a mom and pop just looking at cost per sq ft more in a good location.If your strip is in a non premium location or where a part of the town is getting older and newer development is moving away you will be more in trouble as your cost per sq ft will go down and your tenant clientele will change.During the boom times retailers grew everywhere and new development was expanding.Now retailers see this is an excellent time to negotiate existing leases or sign new leases to get great terms before the next up cycle.Now national retailers are in a "smart and controlled growth" mode.They do not want to go somewhere just because it is 4 per sq ft less.Ultimately if they pay more but get a more central and profitable location that is key to their success.Many companies that branched out into different growth strategies have reeled back to their core values and strategies.Retail is getting the crap kicked out of it right now and is expected to continue through 2012.A lot of it depends on how much the local market is saturated.For instance clothing stores even with the closures have too many in the marketplace now unless they are filling an untapped niche."

I don't change my own oil, hem my own clothes, or make very good phad thai:) I pay people to do these things.

No couches, no soft chairs, no clothes closets and no brand new cars with the exception that I did buy my wife an $80,000 Mercedes SUV about 7 years ago for a present and today the car has less than 2,000 miles on it because she doesn't want to feel like she is showing-off to her friends and our tenants.