Don't be one of the people that gives the niche a bad name. 

Bad experiences?

Trotwood is bad news.

The faster you start making mistakes, that faster you will be a bad *** investor.

In couple of two weeks visits, I rehabbed it with the craigslist “proffies” for like 15K, which was not bad at the time.In retrospective, there were two things, which significantly reduced cash flow:the location- as excited first time “investor” I did not pay attention to numerous sump pumps (the house actually sinks in the swamp- not unusual in New England)the property manager- I had one great guy for the first four years (also found in craig).

Although, I am a passive RE investor with fundrise, which is not bad as of right now.

from my point of view if your an individual and not partnering with folks who ever is going to sue you is going to name you personally.. this is where you need good insurance to take up your defense as your first line of defense.whether they have the right to sue you is immaterial.. or whether they will prevail is immaterial.. if your operating as a group or partnership and have clean records this can limit your exposure to your ownership.other than that  retirement accounts should be maxed out they basically cant be touched... certain trusts.but just LLC labyrinths like you mention.. those are not going to do it for most or.. you will spend a ton of dough fighting to make the position they can't sue you. when suits happen everyone is named .. that's when you need good insurance to handle your defense.

If one of the persons has a bad credit history, it may be best to leave them out, and execute a separate partnership agreement with the terms for responsibilities and how the profit will be split. 

If you are in town at some point and want to grab coffee I’ll be happy to share the good and bad about life as a full time agent.

I’m curious about any actual experiences (good or bad) anyone has had with Section 8.