Insurance (homeowners and umbrella) is good to have, but a backup to this if insurance coverage was denied or the issue was not fully covered would be a limited liability vehicle.

Howdy - I'm an investor from California, looking to buy a mobile home park in Texas. 

You could do private lending - a loan secured against an asset like real estate - and get the monthly cashflow from it without the overhead of a mortgage, issues with tenants etc.

The other issue with 'second set of eyes' for someone to look over your work is that the person doing that may be required to 'sign' as a preparer which can then put the firm at more risk.

Cap rate is ~15%, but we want to build a portfolio as we continue learning so we are trying to get our cash back out.Our key issue is that we purchased the home and did the rehab in cash, and we are now struggling to find methods to get our cash back out.

On top of that I've been dealing with an issue of who's at fault for major damage that originally occurred due to their shoddy management and maintenance.

The code enforcement officer said he mentioned these issues to the sellers and the sellers' agent.

So legally, you can say 'no' to many of the issues that are brought up during an inspection.

Does anyone see any issues with doing it this way?

Overall, he did a good job, but there are issues that will show up on an inspection that aren't necessarily liabilities.