In the meantime, my in-law blew/gambled away a good portion of the money that insurance had paid him.

As a painful lesson that so many learned in the downturn, it is folly to include the gamble of price appreciation in our real estate analysis.

I'm thrilled! 

So neither of us should take offense ...So, are you in the gambling business where you "roll dice", or are you in the investing business where the objective is to learn how to become more profitable?

You may not find this information as helpful as you hoped, but here is my observations from using home warranty companies:I haven't found one that people are overly thrilled with, with the exception being Super in Washington DC.It is the lowest scored category on Angie's List.

The Reno economy is very much based on logistics besides tourism/gambling, we have distribution centers for Walmart, Amazon, Chewy, etc.

It’s out of my agents area but I asked he if he was interested in doing business there and he was thrilled.

I think this thought that appreciation is gambling is a horrid statement and simply not true but its been beaten into the starter investor over the last 10 years because of what happened in the GFC..   

I would certainly see what they say instead of gambling that they don't find out, but it's a tough call.As far as how to form it, you can probably do it yourself on the website for the state of Texas, but the operating agreement should DEFINITELY be done by an attorney if there is more than one member and especially if it's not husband and wife.

I love the thrill of accomplishment and producing what may seem unproducible to the average person.