ARV for a 3 bed 2 bath, 1100 sq/ft totally updated is ~160k.

I've got two parcels  (.37 of an acre total) centrally located in the pedestrian area of a small but growing town in Southern Oregon. 

Your best bet is to buy a rowhouse, or condo if you can't afford a rowhouse, in an attractive part of the district and rent it out by the room.

That makes total sense.

.- Duplex. 3bd + 1ba, 1bd + 1ba- Somewhat dated, could use cosmetic updates but otherwise appears to be in good condition- $129,000I've spent some time looking at rental listings in the immediate area and my rough estimates are that you could get at least $500/mo for the 1bd and $1000/mo for the 3bd for a total of $1500/mo before any updates or renovations.

So I totally understand the "apprehension" when you first start.

They total upto $1.5 million of rental assets.How do I do asset protection against any lawsuits, especially in a tenant-friendly state like California.Actions Taken:- I have broken them down to 2 LLCs (3 properties in one LLC, and 2 in another).- I have Umbrella policy of $2 million.Ideally, I'd like to have 1 LLC per property but California LLC are one of the most expensive in the country.Can really use your help and inputs!

April 15th - Older 3 bedroom one bathPurchase Price - $500 + back lot rent - $212 + back taxes - 379$ Real Cost - $1091Rehab cost - $5600 - New Kitchen, flooring, paint and other minor upgrades Total = $6691Lot Rent - 187$Mortgage - paid cash Insurance - $350/year or $30/monthProperty Tax - 653$ per year or 55$/monthRent - $ 750 / month$ 478 - left every month for the account.  ** This property still needs an upgrade to the heat system that will be $2000 and has to be done before Oct 1st**In June, I saw a property listed on Facebook marketplace that was in rough shape. 

I have no intention of selling the condo anytime soon, so it’s very possible that in some number of years I will be upside right from a total investment perspective.

I'm not totally green to the life of a landlord, as I have managed my dad's 4plex property since I was a teenager.