I find it unlikely the building's insurance covers your liability if someone gets injured in your unit; usually condo insurance just covers liability in common areas.If your NOI is actually correct (I'm skeptical, forgive me) then it's a pretty good return considering it accounts for the management fee.  

There is an increased risk of being sued when a child is injured on the property and some helicopter mom decides she wants a pay day.

I have high standard and doubt an "average Joe" cares about the fit and finishes as I do when remodeling a unit.Furthermore if they get injured... that could be a much bigger headache then a crooked cabinet or sh!

If they get injured or sick, who's to cover?

If I am getting liability waivers signed by each of the workers, does this provide me with sufficient protection in the event that one of the workers were to be injured on the job site?

Wyoming LLC will hereby state and guarantee that John Smith, as an employee of Wyoming LLC, currently has and will be fully covered by Workman's Compensation insurance during his entire time he in in the new owner's home, and said Workman's Compensation insurance will cover John smith should he become injured during the time he is in the house making the repair even though he is not working in the capacity that he was hired to do, which is moving home goods.c.  

Having the contractor is important for a case where there is an accident on the work site, say the contractor falls off a ladder and injures himself.

Depending on how long they were married and how long he was out of a job, he might ask for spousal support & maintenance - her waiting & not being as aggressive as possible only makes his case seem like he's the injured party which is the hallmark of abusers. 

Very interesting.And YES: I'm well aware (now) I should have evicted them much earlier and then I wouldn't be in this position... but I didn't want injured/disabled individuals homeless if I could help it.

It does not mean that the plaintiff will be able to make it stick to you.For asset protection purpose you have to understand how an LLC works.You have two types of liability: inside liability and outside liability.Inside liability is coming from an action that happened inside your LLC that created a tort.Outside liability is coming from an action that happened outside your LLC (for instance your kid had a car crash and injured someone).All states will have the same inside liability protection for their LLC.