In starting out I am looking to buy my first of many rental properties and am looking to set up a couple business entities to keep myself safe.

If you do keep them, I would also advise taking them to a gun shop to get checked out for safety to ensure they are actually in operable and safe condition for use.

Another broker explained this happened to friends of his, they live in a *very* nice house in a *very* nice area, and they had people all hours of the day driving up and looking in the windows in their remote area.Now, keeping an eye on those is a good idea, I just want you to know what you're really working with here.

The age of the property doesn't always mean things aren't still functional, and safe.

Driving for Dollars.

A fast way to get started would be to call every single FSBO in the areas you’re willing to drive to, and make them offers.

I suspect that shopping for a cheaper insurance will make things a bit better, however not sure if its worth it, I feel "safe" with a big brand name insurance that I currently have. 

Stack cash, do not pay off the car (but also never buy another new car,...your driving around in your 9th rental buddy...)   

My question is am I sitting on a wholesale gold mine or should I drive out of town and look for something in a bigger town?

The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments(maintain your property, etc) - these simple steps will help you prevent lawsuits before they even occur.