I work in the oilfield which is suffering terribly at the moment.

As a example Dementia runs in my family and if I suffer from it I will be a vegetable by my mid 70s.

Side note - After suffering multiple years of "analysis paralysis".

On the flip side, if you pocket the money and let the PM service suffer since you travel alot and can't answer tenant issues such as leaks and other important issues on a timely basis, then it may backfire and cost you more by neglecting your tenants and unit condition...

As for the question about oil prices, I would agree with @Richard Spooner that Houston will not suffer this downturn as much as it did in the 80's due to so much more diversity in the types of industry that are now supporting the region.

Also, your reputation will suffer after enough of these fall apart.  

In consideration of Landlord foregoing the installation of a keyed dead bolt device on the back door of the dwelling and for consenting to the Tenants installing a “doggy door” in the back door of the dwelling at the Tenant’s own cost, Tenants hereby waive any and all rights and remedies they may have against the landlord for violations of the Texas Property Code and for any and all damages which the Tenants may suffer as a result, or in any way relating to, a keyed deadbolt not being installed on the back door of the dwelling or as a result, or in any way relating to, the allowance of a “doggy door” to be installed in the back door of the dwelling.

She'll make you the villain every time she tells her story, which will be often.Your reputation and business will suffer more than hers

But, I've never read an agency agreement where this is discussed.Can you be more specific how an insurance company could go after a party to an agency relationship for an injury suffered by an agent?

This is why delaying the LLC formation for 2 or 3 years could be costly in the long term.Using our extreme example of a wrongful death liability that the landlord suffered, if you had five different properties all under separate LLCs, and the accident occurred only at one of the properties, only the assets of the LLC where the incident occurred would be at stake.