Would the lawsuit have settled if the property was in the name of the wealthy landlord instead of an LLC? 

Wealthy people have an abundance mentality.

Meanwhile, sales of properties worth $1 million and over are up 102.2% in the past year, as wealthy urban dwellers purchase properties out in the suburbs to escape pandemic-related restrictions and social unrest.

Over the years I have taught people who are extremely wealthy.

In my opinion , buy and hold properties, build long term return on investment and wealth, I have done turnkey properties And made quick money, only to return to the market to try to find another deal , took me about a year .to find the next one to fit in my parameters that I have chosen for myself.

There is a reason the wealthy are wealthy.

There is appreciation too (both forced and market), which creates both equity AND cash flow over the long term and is where true wealth is created, especially for Californians.

Generally, these tenants ARE harder on the property, harder on the neighbors (noise, excess cars, late nights) and have more drama than people that work for a living, or are otherwise independently wealthy.

My goal in life is to leverage my company to become a full-time property investor who is independently wealthy.

If you buy a negative CF property and it appreciates a lot over the next few years like it did in the bay, I would say that's lucky but not a smart investment.I'm assuming you're not even accounting for reserves in case of vacancy, repairs, capex, etc...which makes it even more risky.That being said, if you're super wealthy and can take the hit in case things don't go your way.