@Nathan Leger I'd try to find someone you can partner with on your first deal to reduce your risk exposure and hopefully give you some peace of mind.

The Attorney can better advise you.Once you have your contract, you should look into what coverage you will need to protect your exposures.  

Hard and Private money are less concerned about exposure and more about the deal itself and your ability to carry the projects. 

Well, besides the legal exposure & liability, your generosity knows no bounds (on either end of the spectrum)Amazing.I see you've posted this multiple times, so nothing I have to say will matter to you, but it may make sense to the lurkers who never comment.

If the issue is reducing your risk exposure, having the proper property insurance and an umbrella policy is important.

a good book that touches on this would be Veil not Fail by Garrett Sutton. if the objective by running the real estate through an LLC would be to reduce exposure, it provides great insight on how to set up, maintain and reduce exposure.   

That keeps your risk exposure separate and allows either LLC to sell their interests more easily.

And there's more exposure than a loose handrail. 

You will have the highest exposure to cash buyers and you also open yourself up to rehab loan buyers like 203(k) and FHA rehab loans.

For example I would ensure that you’re maxing out your tax advantaged retirement accounts (Roth IRA, Traditional IRA) with a broad and balanced exposure to financial assets like a target date fund. (2) Don’t think about taxes as a “risk”.