I suggest no lower than $1,000,000.I'm no lawyer, but if this property is in your personal name, and a lawsuit finds you guilty, you will personally will be responsible for any claim over $500,000.If this property was in an LLC, the LLC would be responsible, protecting your personal assets from the claim.That's the reasoning behind an LLC.  

The LLC thing is definitely a good thing to discuss with the lawyer and there could definitely be some benefits to putting it states besides those you invest in.

If you talk to a RE lawyer see if there's some standard in your state/area about specifying repair responsibilities in the lease; that'd be a simple solution.You haven't signed anything yet saying he can stay, right?

I would ask the lawyers and accountants.

.I'm not a lawyer, but regarding eminent domain, I don't believe it has to be strictly for public use (though it usually is).

@Eric Harris-PoindexterThat's kind of a loaded question.Best advice I can give for any out of state investor is have a good team in place (lawyer,realtor, property manager, banker etc). 

The reason I ask is because I used the rocket lawyer site for a template on my last 3 day notice and it stated that late fees where not to be included in the notice. 

If you need a Texas lawyer for any legal, formation issues. feel free to reach out.Ron

We used a lawyer for our most recent one so I would suggest checking with a real estate lawyer in your area.

I was looking for recommendations for reputable lawyer within the MD area to review the document and assist the rest of the way.