The challenges we face are minuscule compared ot many parts of the world, So many people have died and been injured so that we can disagree freely in an open forum like this one, and many of us, myself included, take that for granted on too many occasions.

Hard to say so investigating the topic is wise.John CoreyIf there are problems like someone being injured on property that an LLC owns and you don't, then for that someone to sue you, they would have to 'pierce the corporate veil.'

Anyway;  nobody paid a penny but me and the tenants also sued me because their child was injured by their illegal fish tank.A goldfish in a bowl?  

@Michael Plante my concern with this is that your tenant doesn't have any business insurance to do the work they will be doing, so if they get injured doing the job, or someone gets injured because the work they didn't wasn't up to par it falls back on you.

So if there is a judgment entered against your friend, and your friend does not pay it, the injured party may attempt to levy against your friend’s assets to secure the judgment.

I don't want to damage my property and have other tenants get injured/killed because of a house fire.

My credit is still repairing after being injured and I want to keep building up savings. 

A license issued by the IDFPR certifies that the real estate broker has fulfilled all of the  requirements of licensure under the Act. 225 ILCS 454/1-10.As of December 31, 2009, the Illinois Real Estate License Act of 2000 provides for a private right of action when private citizens can seek to stop the unlicensed practice of real estate brokerage. 225 ILCS 454/20-21(c).Other than as provided in Section 5-20 of this Act, if any person practices as a real estate broker, real estate salesperson or leasing agent or holds himself or herself out as a licensed sponsoring broker, managing broker, real estate broker, real estate salesperson or leasing agent under this Act without being issued a valid existing license by the Department, then any licensed sponsoring broker, managing broker, real estate broker, real estate salesperson, leasing agent, any interested party, or anyperson injured thereby may, in addition to the Secretary, petition for relief as provided in subsection (a) of this Section.

I'm asking two other people who might be interested to spread the risk and would take out a 2MM (Partner and I named injured) insurance policy to name the equity partners as beneficiary of the policy and property going to my business partner.Any default, equity partners can liquidate to achieve capital recovery or retain for long term investment goals.

If they are injured and claim Workers Compensation (yes it happened), you could end up with an uncovered loss.