I would do this even if you have an LLC in case the really worst case scenario happens and you have a car accident that kills someone or you accidentally burn down someone's building.

So I just assume those things will be part of ongoing maintenance for the property.On a side note: where is your house that it's so dry in the summer that the grass will burn dead, yet the municipality can afford to give away unlimited quantities of water for a flat price (just part of your taxes)?

@Trey Burns Yes, that is the plan!

Silver also has superior industrial use, notably in some emerging industries such as microchip manufacturing and alternative energy devices. 

So what is the right size commercial to get involved with vs getting buried and burned.  

I say burn it and start over.But no, now they have it all programmed and it is so hard to understand, we have but little choice but to allow a computer do do it for us.

I actually brokered the deal myself, as the home was FSBO, and we had been BURNED by a previous real estate agent. 

. - You are screwed here and no amount of LLC/asset protection will prevent you from being personally named in a lawsuit.2) Building burns down, cause determined to be fire caused by unpermitted electrical work. - Insurance does an investigation and decides not to pay for the damages.3) You need to sell the place in a hurry for some reason.

I was raised with the 'be debt free' as much as practical value system and always keep extra funds for whatever emergency that comes up (renters that burn the place down, or just play the no rent/eviction game, or car accidents, or medical situations, whatever).I buy rentals for cash, fix then up and hope to rent most of them forever. 

I hate to take my big city norms to a small town and get burned.