LLCs that are thinly capitalized are more likely to be viewed as “shells,” thereby losing their capacity to shield the members from liability.or fails to maintain a separate identity from its owners ( using the business bank account for business purchases, maintaining separate books)Conversion of entities Assets for Personal Benefit:Another factor that poses a risk of piercing the corporate veil is the draining of entities assets (such as payments of large salaries to shareholder-employees) that leaves the entity with inadequate resources to pay its debts.Do not commingle personal and LLC assets.Maintain a separate LLC bank account.Execute an operating agreement.Follow the provisions of an operating agreement.Have LLC member meetings according to the operating agreement.Title property in the name of the LLC.Maintain insurance on LLC property in the LLC's name.Sign all LLC documents in the LLC's name, not the members' names.b.

No soffets, no gutters, missing interior trim on all windows and most of baseboards, a wall completely in the way when you entered, washer/dryer relocate, no drain venting so rotten eggs overpowered you every time you ran water, etc. 

Totally shooting from the hip here, but I don't think they can come after you unless there was some way you were negligent in causing the damage (e.g. you personally installed a tub without connecting any of the drain pipes, so the water from the bathtub flooded the unit downstairs).In this case, I believe your tenants were negligent and therefore should be held liable.  

This did drain that fund, but it also kept the impact to our personal finances very minimal. 

I moved up to only buying 20 lot plus developments anymore.. by the time you do the brain drain at least you have 20 lots in one spot you can attack.. it could literally take you years to find 20 separate lots that made sense.

I do almost all my own work, even if it involves sweating pipes and gluing drains.

It is a tremendous feeling because my whole life I could never find what I wanted to do professionally, and it brought many of draining emotions along with it.

I often come on this website because I feel burnt out, and the people here are likeminded/supportive and help make the process a little less emotionally draining for me.

Any large rehabs are separate, but this could allow you to stabilize your expected cashflow each month, since you won't have to dish out an unexpecte $250 each time someone's drain clogs up. 

Obviously that secures my house to the loan, but it would basically keep me from draining my savings account to throw in a 20% down payment.