(And If the liability scares you, go with  a good landlord policy and add an umbrella policy (mine allows I think 4 or 6 residential properties)).

Believe it or not, there is lender liability. :) 

Howver, setting your private placement offering as a 506(b) with the proper filings goes a long way in limiting your liability and, personally, it lets me sleep at night knowing I did things the right way and that I'm covered.For your first one, I'd suggest going the $10k-$15k route and having an experienced attorney draft your PPM and operating agreement.

In finance and accounting we look at a "Quick Ratio" (also known as the Acid Test) this shows the ability of a company to meet obligations, but this only looks at current assets or liquid assets and current liabilities, real estate is not a liquid asset.So we move to other ratios like "Current Ratio" and "Cash Ratio" these to help to illustrate the ability of a company to cover current debts.As to mortgages or long term debt, coverage is difficult to predict due to uncertainty over longer periods, but by looking at the current coverage and cash available we can see what funds remain for these other obligations.Most everyone is familiar with the debt to income ratio we suffer through at a loan application, say 24/36, meaning that you should not pay more than 24% of your income to current liabilities, revolving accounts and car loans, the 36% includes the 24% to establish your ability to cover the mortgage, total debts should not exceed 36% in this instance.

If you are house hacking the property or rent the property out when you are not there, it may be worth placing the property in a limited liability entity as a result of the liability that it is creating.

Renters insurance is designed to protect tenants' personal property and liability, and it can help cover the cost of damages caused by tenants to the rental property or others' property.

Snow plowing is disaster relief and liability mitigation .  

The guy is a moron if he thought he could collect on someone’s liability insurance for poor work. 

This covers the homeowner and renter from liability and gives an example of what to defer to a person that is licensed and bonded for that one and a million chance it could happen even on minor work. 

Sometimes title insurance, liability and hazard insurance are also affected by this type of move.