Short term rentals make the property more at risk for liability claims, etc.

Still has to make sense for the advisor and his/her time and liability so there's still a barrier of entry. 

Accredited investors (who used to own turnkey rentals) all laugh how they wished they got out of owning rentals sooner.Why would you want to be the direct owner... better to move to LP with no management headaches, not having to optimize equity with refinances in the future, little to no liability, and no debt in your personal name... and no crazy tenants :PIf your net worth is over 500k, I can't really find a good reason to buy a rental property.

When LLC's are set up by your smaller average landlord, they are easily pierced by a decent lawyer because there is often enough cross over of income and expenses to prove they are a "smoke show".Plus depending on state, there are recurrent fees for each LLC, nit just a one time set up cost.The debate is over heavy liability insurance coverage vs having a bunch of LLC's......

We give them access to the building Internet access, but they sign a waiver waiving any liability and that it’s a public Internet access and they have access to it, but it’s not secured.  

Lots of times it is the capacitor blows from being hot, fix it you are taking on the the liability of keeping items fixed like that.Having said that you need to train the renters or yourself to do basic up keep on the unit.Change the filter on a regular basis depends how often from the type of filter or how dirty they live Hose the out-side unit down couple times a summer maybe more if it gets dirty quick.This will make the compressor last longer $$$$$$!

Look up joint/severable liability.

Are you treating your home as an asset or as a liability?

I did put the property in the name of an LLC because its a short term rental so liability is a concern.  

That could open you up to liability should something bad happen.