Very new to this - so hopefully my question isn't too elementary :)I have looked at a few homes to buy with kitchens in the basement, set up for a Mother in Law suite.

This way if an investment goes bad or a law suite for some reason or another is targeting my father they can't touch whats not technically his.

Next step if he tries it again is a lawsuit, falsifying a lien is a crime.

In the event (God forbid) someone decides to sue your LLC for any reason, your registered agent is the first person informed of the law suit -- and it can be quite handy if that person happens to be your attorney. :)

I feel like that's the wrong answer...but I also feel like buying a 3bdrm townhouse for cash isn't prudent either (aside from making me a target for a lawsuit - lawyers love an unencumbered asset).Should I form a corporation/LLC or other legal entity?

Thats exactly what they want to do .. get you convinced that they can teach you all that but after taking their advanced course .. it's been done time and time again to so many people .. there is no easy way to become rich besides getting incredibly lucky , Lottery, inheritance, marriage, lawsuit..or good hard work ..

They'll determine soon enough if it's fraudulent.An investor I know said he was once threatened with a personal injury lawsuit by a tenant.

This contains a problem to the property where the problem occurs, if a problem occurs (lawsuit, fire, etc.) - your liability is limited to your interest in that property (and your other properties are protected).

Because one of my leverages was that they are a Gov agency and did the county really want to get involved in lawsuits involving the Gov that pours millions into their county programs.

Here in Orlando we do have a few homes with a mother in law suite.