If they cause damage to anything outside by something of their own accord, then yes they are to be held responsible just the same as inside. ie: tenant decides to pull all the bushes up because they don't like them, they are responsible for paying to replace all of them.The tenant's responsibilities for yard maintenance should be outlined clearly in the lease. ie: mowing the lawn every 2 weeks, raking leaves, etc.You are held liable for injuries that happen on the property if you're found to be negligent. ie: Your steps are notoriously slippery in the rain, tenant brings it up and a concern you dismiss it, tenant falls and breaks something.

They did not rehab it as described, and property management was negligent.

This is what is in my head but I 1: don't know if it is necessary, 2: too much of a financial burden for negligible increased protection.Now back to my titled thread.

So, in that sense, it protects you from creditors going after your personal house or your personal car, assuming they aren't in the LLC.However, an LLC does not prevent anyone from suing your personally for negligence...

I just go with the 300k liability my insurance provides and get a million on top and feel that should cover just about anything, as @Nathan G. said in this post and many more the likelihood of being sued for a gross amount is extremely unlikely and if it happens to you, you most likely had it coming for extreme negligence. 

Plus after so many years you could even refinance it and take them out.Your big savings here is on closing costs since your bank fees will be almost negligible.

Or you may have a case against the Inspector if your inspector was negligent and you can show that a reasonable inspector, in his or her place, would have discovered the defects in the home.

That would make up half ($900) of the income shortfall ($1800).My lender's recommendation is that I amend my 2012 tax return to represent as income the three months I paid to the seller and pay the additional taxes on that amount (a negligible $383), as well as pay off a car loan ($6000 outstanding balance at 0.5%, that is free money I would rather NOT pay off with investment reserves).

If you keep your property in good condition, have stop signs at cross walks in parking lots and take measures to reduce your exposures you really won't have an issue, but things can still happen.You must be negligent to be liable.Then it falls to insurance, if you are sufficiently covered, your assets will never be at risk!

My logic is that if you are financing your renovation and include windows in the repair, then what you would be paying per month for new windows is negligible, probably only $50 difference in the overall mortgage.