It also mitigates your amount of risk from a lawsuit if you don’t fully own the property so think of it as insurance.

The tariffs (if they get past lawsuits and the WTO) diminish significantly year on year and the first 2.5 mw ( a crap load) imported annually are exempt.

Note anyone can sue, but the reality is lawsuits on rental properties are rare and more rare if you are a conscientious landlord that properly maintains the property and tries to abide by the laws.I have a multi million umbrella policy.  

We are planning to put 5% Down, use a Conventional Homestyle Loan to rehab the property, make a part of the house a mother in law suite for ourselves and then house hack while we are away (we are travel nurses).

Second, consult with an insurance professional to get ample coverage, an umbrella can be a good idea depending on your other insurance needs-you should know that law suits are extremely rare. 

. $1,500 per unsolicited call and he's putting together class action lawsuits to target legitimate companies.

I think that's going overboard.Everyone is always so paranoid about lawsuits.

They found the perfect house for layout and lot with mother-in-law suite downstairs in an excellent area with tons of space.

A lease almost never is extended beyond that, so I would not think tenants would have luck on a law suit stretching back several years as the evidence would be almost impossible for them. 

So my question is if they are successfully held financially liable for the lawsuit posted on the first page, can their liability only be for the maximum of one of their LLC's or are those legal asset protections void when it comes to fraud and other allegations posted within the lawsuit?