If you are just looking for principal protection assets you can do a lot better than empty houses, if that's what you are doing. 

The right idea is going to be the bread and butter.1) Ideal location2) Quality properties over quantity of properties3) 1.25x DSCR4) Intention to hold no less than 8, but ideally 12+ years.5) Sufficient cap reserves6) Mechanisms to enhance cash flow(via alt investing or house strategies).7) Liability protection through no PG loans(if possible), LLC formation, property management and being a diligent landlord.8) Invest deeper, before wider.Now if you're talking where to invest, different information.

I agree with complications of ownership when it comes to Land Trust, and it also does nothing for asset protection. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

While state specific leases are simple and can work, spending the extra investment and having a real estate attorney help create one for you will likely create more value/protections and save you money in the long run

People will start to realize that a law designed to protect against criminal international money laundering captures more innocents than anything. 

Also, if your state allows it, add a clause in the lease and attach a fee to protect you if they leave without notice. 

Rick, Your property is your business, and every decision should protect that investment.

The LLC is there to protect you from liability when doing business by SEPARATING your business from your personal.

Affordable Housing Incentives -While SB 9 encourages new development, it also includes provisions to protect existing tenants and preserve affordability.