Otherwise, they can happily pursue a lawsuit and we can settle things in court. 

If proper disclosures are not made, or accepted guidelines followed, a lawsuit(s) is virtually guaranteed whether the venture is successful or not.

I think the people we do business with and our partners will play more of a role in any problems or lawsuits than a entity structure.Frank

There have been a lot of recent cases of scenarios where lawsuits occurred and agents are held liable.

I'm just vetting MI since I had been following Clayton for over a year now and am shocked at the claims he can make, considering the lawsuits, etc. balanced with all the positive followers. 

Lawsuits can spring up years after the sale and you will be thankful you made the small investment. 

Make friends and network with a lawyer now so that when the lawsuit comes you have a resource to turn to in a moment when you will otherwise be panicking.From day one, decide on a accounting system and pay a professional to set it up and at least do the month-end reconciliations and year-end taxes.

I have a house that I'm getting ready to rent, my biggest concern is the lawsuit due to "accidents". could you please write any suggestion on what to do to the house to prevent injuries?

Instead, the answer for myself was to purchase a SFH that had a mother-in-law suite.

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).