The beneficiaries are all hidden from 'adversaries' who may want to sue you, but you must pierce that veil of protection when it comes to lending. 

Hi,If I buy a apartment doing a seller carry back, how do I explain to the seller how they are protected if they carry a 2nd position note subordinate to the bank?

Research the appropriate laws for your property and follow best practices to avoid any discrimination accusations: use the same criteria for everyone who applies, know what the protected classes are, which questions are legal to ask and which aren't, and only deny applicants for legal reasons etc.

He has asked;"Provide protection around water heater or furnace to prevent children from making contact with theseappliances."

Any advice or pitfalls that I should prepare for or protect myself from?

The goal here is to reduce liability.Consult an Attorney for Liability Options: An attorney could advise on setting up an umbrella insurance policy to add an extra layer of liability protection.

You’re on the right track—setting up separate LLCs for wholesaling and building can simplify things and offer liability protection, plus putting properties in their own LLCs keeps assets safer as you grow.

Then it will go to tax sale and typically back to the county.The mortgage company could try and repair the property to protect their asset but it depends.

This ensures you’re protected in case of disputes and shows your commitment to maintaining the property thoughtfully and responsibly.I know this was longggg, but hope it helps you or anyone else with this same question. 

And that includes wraps .. wraps done right protect the seller and you.. investigate that avenue.Have to agree with you Jay….good advice as usual