I am looking at 2-4 multi unit homes and I would imagine you need liability but not sure of what other insurance you might need.Thanks in advance!

In fact REO's are carried on the bank's books as a liability, not an asset.

The cops and animal control told me they would not help because they didn't want to open themselves up for any liability or lawsuits.

The only liability of "not presenting an offer" is from the seller side.....I love when wholesaler yahoos try the "you must present all offers" crap, yeah right, just like I'm going to let let you tie this property up with no ability or intention to buy.However, if you have shown a reasonable ability to buy, you need to know what the objections are.

On plan b renting it could be non insurable liability.  

In a great many cases, the one with the best records wins.There are things you can do to protect yourself against any future liabilities with concern to this silly PMC, for example the payment of any fines, SEC.

In MA, we have strict liability for lead paint. 

I'd have to guess you're not on the hook liability-wise but still...yuck. 

have him specifically add you on his liability policy.

I am wondering if any one owns or thinks its a good idea to own a company that holds the property for you instead of having it in your own name for liability reasons.