If you are buying one house and you don't have a ton of net worth that needs protecting again IMHO you are better off just getting a good umbrella insurance policy and skipping the LLC expense and hastle.  

I would skip the intro and read that at the end.

Some mentioned the possibility of wage garnishment, but then someone mentioned a case when a tenant avoided even that by quitting their job and skipping town.

Decide to skip the quarterly pest control this year? 

Should i just skip  the home inspection?

One thing that realtors use is skip tracing.

Just skip all this crap and make extra payments to your mtg....in your example an extra $10k/mo.....same result.

I recommend the Property be fairly close to your home; I don't think it needs to be less than 3 miles away but if it's more than 1.5 hours away you will find it too easy to make excuses to skip your regular property tours. 

Most SFH buyers will skip duplexes or other types of multiplexes as they are looking for a home to live in, not for investment. 

My conservative nature means that I've skipped some deals that would have made me money, but it also means I haven't cut it so close from the outset that I've lost, despite all manner of unexpected issues popping up on properties over the years.