no reports of incidents with our residents but there were some people injured and some homes damaged. 

As a side note, FDIC insurance protects depositor money, not debt.

Is that amount worth risking at this time potentially having to pay from your primary residence?

I don't have an interest in any markets other than where I reside. 

If you do, work to protect it! 

Holding properties in an LLC (or other legal entity) can offer valuable protection for your personal assets, so I understand why you went that route.

.- You will have to come out of pocket for the arears, fees etc, just to get into "contract" some times $20k or more and all you have as protection is the word of someone who's proven to be unreliable and a signed piece of paper... 

He currently travels often for work and resides in TN. 

While an LLC offers liability protection, it does not change how taxes are reported unless treated as a partnership or corporation.

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value.