But the lessons you learn from owning the asset will definitely help make you smarter going forward.

This offers the same protections of an LLC, but you can separate each asset into its own “child/member” LLC housed under the “parent” Series LLC filing.

IF not, what is the best way you'd recommend to create some asset protection here?

I suggest she talk to a Good commerical agent Whatever she does she should invest in a SAFE asset

As to your question about the LLC, this is how I break it down for people looking at real estate investing and asset protection - I call them the pillars of asset protection. (1) Avoid high liability actions [this is more of just executing common sense,] (2) find a great insurance policy, (3) compartmentalize your assets [LLCs, C Corps, etc.,) (4) separate your assets from your operations [operations contain the most liability,] (5) introduce layers of anonymity to hide your assets from prying eyes.I approach these issues from the mindset of being an investor myself, so it all has to come together in a way that is profitable.

Asset usually in an LLC or other entity. 5, 7 or 10 year adjustable rate mortgages, amortized faster - usually 25 years (payy down to zero).

Highly recommend Jeff and his team if you are looking for turn-key assets to start with.

He has agreed to do the day-to-day management of the property (long term, as I accumulate more assets, I would consider hiring a property management firm).Looking to get some advice/call out any pitfalls in my assumptions:Focus on low cost, 55+ communities in Boca Raton/Delray Beach Area (Century Village, Kings Point etc.)Setup an LLC with my dad and myself listed (otherwise, my options to purchase in 55+ communities would be limited)Properties must have a net operating income of $1,000/month or more, expected rent $1,600-$2,000HOA: $450-$550, Insurance: $50-100, Taxes: $50, Maintenance: TBDInitially pay for all assets in cash, no debt. ($40k-$100k purchase price)For the first investment only look for minor cosmetic upgrades.

He would do something along the lines of a SAFE note, where the note will be secured by future equity, and primarily looked for investors to loan that had unallocated capital but wanted cashflow (retirees, people with little time, or people that didn't have the skills to find assets that made sense financially).

Your losses should not be too significant unless you are accelerating depreciable assets.