In addition to all the misconceptions you may each bring to your business you will have to deal with all the problems that can arise from a poor partnership.

In my state if your wife has no ownership[ in your properties and does not participate in running them she will not have any liability to claims arising from them. 

It does require some confidence on your end to know what you are doing, how much things cost, and build in some contingency (the oh %€£ budget) for the unforeseen things that will arise. 

Even though our property was in pretty pristine condition I have to say there have been a lot of things arise and with the limited and spotty help to hire that has been a challenge.

I rent out new units and we still have issues that arise.

Transfer complications can arise from starting your LLC after the purchase, along with the drag of updating your insurance policy once the property is transferred to the LLC.

No, I'm sure you're not.Title insurance coverage for the insured lasts forever, claims can arise after you sell it and you'll be defending title issues to any future owner. 

I'll definitely check with you when the need arises.

However, sometimes anomalies exist and opportunities for arbitrage arise. 

Only contractual remedies are available for an error or omission that arises from a property information report.I suspect Lloyd's would rely on that statute to determine coverage.