With compounded interest you will earn a far greater return and not have the liability associated with owning additional brick and mortar.

No mortgage on primary residence.If they add all monthly liabilities to the debt side of the equation, I need 2-25 as much on the income side of the equation to offset it to remain with a decent DTI. 

The purpose of an LLC is liability protection not ego stroking.

There are a lot of tax ramifications and potential liability issues that will need to be addressed.

@Joanna LaguerreOwning your own place is a liability unless you house hack so there is nothing wrong with renting.

@Courtney M.Here's a thread I remember reading a while back that addresses what I was writing about.https://www.biggerpockets.com/forums/12/topics/479458-investing-out-of-state-from-ca-what-about-taxes-and-liability

Either way, you don't want to take on someone else's liability, you only want your next great potential!

The quote I received was for General Liability (100,000/200,000), and the Building Coverage is for 70,000.00.  

It is imperative that you do not do so since there are so many grounds on which a human rights could conceivably be based it is important that you do not give any information that is not required since this might produce liability.

(an absolute must to waive yourself of the liability).... then you might just have yourself a free storm shelter.Make sure they sign both a liability waiver, and an "improvements/leave the shelter with the house for free" agreement.